Limburg-based chemicals group DSM has reached agreement to buy US biomedical products producer Kensey Nash for $360m in an all-cash deal.

The offer price of $38.50 a share represents a premium of 33% on the Kensey Nash share price on Wednesday and has been approved by the board.
The purchase ‘will strengthen and complement DSM biomedical’s business and capabilities, while clearly meeting DSM’s financial and strategic criteria,’ the Dutch company said in a statement.
Biomedical is one of DSM’s three key emerging business divisions which the company hopes will generate €1bn in sales by 2020.