Martek (Nasdaq:MATK) Gets $1.1 Billion Offer from DSM

Shares of Martek Biosciences Corporation (Nasdaq:MATK) are soaring on the news Dutch group DSM has made an offer of $1.1 billion for the company.

DSM said this is only the first of many acquisitions they're ready to make in the high-margin portion of the food and materials sector.

Last week DSM sold off some of its chemical assets for $1.6 billion as it now starts to focus on growth through acquisitions. DSM has close to $2 billion on hand to make deals with.

Martek shareholders will get $31.50 a share from the offer, about 35 percent above Monday's closing share prices.

DSM said they're using cash reserves as the financial means to acquire Martek.

Martek was trading at $31.60, up $8.24, or 35.30 percent, as of 1:20 PM EST.