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Among the possible candidates to acquire Omrix is German pharmaceuticals giant Bayer AG (XETRA; BAY; LSE: BYR). Bayer markets products of Omrix competitor ZymoGenetics Inc. (Nasdaq: ZGEN | Quote | Chart | News | PowerRating) and is a partner of Omri, a company owned by Omrix CEO Robert Taub, who owns 15.7 percent of Omrix.
Both of Omrix's core businesses are based on human blood plasma. The company's surgical sealants for the control of hemostatis (bleeding) are a growing field. At its peak, the company had a market cap of $600 million.
For years, Omrix has been a takeover target by its US marketing partner, Johnson & Johnson (NYSE: JNJ) unit Ethicon Inc., and only price considerations apparently prevent a deal from being closed. The plunge in Omrix's share and the launch of new products via Ethicon increased the probability of a takeover by Ethicon.
At the same time, Taub and a group of private investors began buying up Omrix shares in an attempt to take the company private. This effort was reportedly called off when Taub received other offers for the company and found himself in a conflict of interests that compelled him to halt his efforts at delisting the company.
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