Mars to acquire Heska for $120.00 per share

Mars and Heska announced that they have entered into a definitive agreement under which Mars will acquire Heska for $120.00 per share. The transaction price represents a premium of approximately 38% over Heska’s 60-calendar day volume weighted average price and a premium of approximately 23% over Heska’s closing stock price as of March 31. The agreement has been unanimously approved by the boards of directors of both companies. Upon transaction close, Heska will join Mars Petcare, a purpose-driven global business serving pets and pet owners through products and services within veterinary health and diagnostics, nutrition, innovation, and technology. This acquisition will enable the Science & Diagnostics division of Mars Petcare to expand its diagnostic offerings and broadly promote point-of-care veterinary diagnostics to the global pet healthcare community. The transaction includes customary closing conditions, including Heska shareholders’ and regulatory approvals, and is anticipated to close in the second half of 2023.