Advanced Medical Solutions (AMS): H.B. Fuller takeover offer
New since the earlier version: on 13 October 2026, H.B. Fuller's bid vehicle said certain potential debt investors had received the final offering memorandum. AMS shareholders have already approved the 285p all-cash takeover, and the deal now depends on the remaining conditions and court sanction.
What changed
- 24 Oct 2026 figures as the announcements state them
AMS Advanced Medical Solutions Group
As of 13 Oct 2026 ↗
Every step · 5
- 21 May 2026 offer – H.B. Fuller submitted an all-cash proposal for the entire issued and to be issued share capital of AMS on 30 April 2026. ↗
- 25 Jun 2026 offer · 285p – The Acquisition Price represents a premium of approximately 34.8 per cent. to the Closing Price of 212 pence per AMS Share on 20 May 2026. ↗
- 20 Jul 2026 offer – The AMS Directors unanimously recommend that the Scheme Shareholders vote in favour of the Scheme at the Court Meeting and that AMS Shareholders vote in... ↗
- 12 Aug 2026 approved – The Acquisition remains subject to the satisfaction (or, if applicable, waiver) of the other Conditions, which are set out in Part A of Part III of the... ↗
- 13 Oct 2026 approved – Bidco and H.B. Fuller confirm that certain potential debt investors have received a final version of the offering memorandum. ↗
What is happening
H.B. Fuller Medical Adhesive Technologies, a wholly-owned subsidiary of H.B. Fuller, is buying the whole issued and to be issued share capital of Advanced Medical Solutions Group (AMS) for 285p per share in cash. The deal is being carried out as a court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006.
AMS makes tissue adhesives, sutures, haemostats, internal fixation devices, internal sealants and wound care dressings.
How it got here
H.B. Fuller submitted an all-cash proposal on 30 April 2026, and AMS confirmed a possible cash offer on 21 May 2026. On 25 June 2026 the two boards agreed the terms of a recommended acquisition. The AMS directors unanimously recommended that shareholders vote in favour, as set out in the Scheme Document of 20 July 2026.
At the Court Meeting and General Meeting on 12 August 2026, all resolutions were passed by the requisite majorities. In the Court Meeting, 15.77% of the Scheme Shares voted were cast against.
The numbers
On 25 June 2026 the company said the 285p price was a premium of about 34.8 per cent to the closing price of 212 pence on 20 May 2026, the day before the first announcement.
The shares closed at 283.0p on 23 October 2026. That is below the 285p offer price.
What comes next
Conditions 2.1 and 2.2, the shareholder approvals, have been met. The other conditions, including Conditions 3(a) to (g), must still be satisfied or, where applicable, waived. The Court must then sanction the Scheme at the Court Sanction Hearing, and a copy of the Court Order must be delivered to the Registrar of Companies.
The Scheme was expected, as of the 12 August announcement, to become effective in Q3 or Q4 2026. That means by the end of the year. The company has not given a firmer date.
What to watch
Watch for an announcement that the remaining conditions have been met or waived. Watch also for the date of the Court Sanction Hearing and any firmer timetable for the Scheme to become effective.
On financing, the 13 October 2026 announcement says only that certain potential debt investors have received the final offering memorandum.
Questions
Have AMS shareholders approved the takeover?
Yes. All resolutions at the Court Meeting and General Meeting on 12 August 2026 were passed by the requisite majorities.
When will the AMS takeover complete?
The Scheme is expected to become effective in Q3 or Q4 2026, according to the 12 August 2026 announcement. The company has not given a firmer date.
How much is H.B. Fuller paying for AMS?
H.B. Fuller Medical Adhesive Technologies is offering 285p per share in cash. On 25 June 2026 the company said this was a premium of about 34.8 per cent to the 212p closing price on 20 May 2026.
Sources
- 21 May 2026 Statement re Advanced Medical Solutions Group plc
- 25 Jun 2026 Recommended Cash Acquisition
- 20 Jul 2026 Publication of Scheme Document
- 12 Aug 2026 Results of Court Meeting and General Meeting
- 13 Oct 2026 Publication of Financing Materials
From the company's own announcements; text written 24 Oct 2026. Not investment advice.
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