ST. LOUIS (AP) -- Dental supply maker Young Innovations said Tuesday that it agreed to be acquired by private equity firm Linden Capital Partners for about $314 million, driving shares up 9 percent.
The deal values Young Innovations at $39.50 per share, 8.7 percent above Monday's closing price.
The company's board has recommended that shareholders approve the sale. Young Innovations said it can seek alternative acquisition offers through Jan. 12, and it will consider any other offers it receives. The company expects the deal to close in the first quarter.
Shares of Young Innovations gained $3.40 to $39.74 in afternoon trading. The stock traded as high as $39.85 earlier in the day, suggesting that investors expect the company may get a higher offer. Young Innovation stock had gained 23 percent this year.
The Earth City, Mo., company reported about $82 million in revenue over the first nine months of 2012, up 3 percent from the same period in 2011.