Cooper To Buy Sauflon Pharma For $1.2 Bln - Quick Facts

(RTTNews) - Medical device company Cooper Cos Inc (COO) Monday agreed to acquire Sauflon Pharmaceuticals Ltd, a European maker of soft contact lenses, in a deal valued at about $1.2 billion.

Excluding one-time charges and deal-related amortization, the deal is expected to be accretive to earnings per share in fiscal 2015.

The deal is subject to regulatory approval and is expected to close by October 2014.

Cooper Chief Executive Robert Weiss said the deal will enable CooperVision, its vision care segment, to possess a wide portfolio of daily disposable lenses.

Sauflon forecasts revenue of about $210 million for its fiscal year ending October 31, 2014, up about 22 percent year-over-year.

Cooper expects to fund the deal with off-shore cash and credit facilities.

Cooper stock closed Monday at $135.53, down $1.51 or 1.10%, on a volume of 432k shares on the NYSE.