Amplifon Buys GN Store Hearing Aid Unit in $2.6 Billion Deal

Amplifon SpA agreed to buy the hearing-aid business of GN Store Nord A/S in a deal valued at 17 billion Danish kroner ($2.6 billion), a price that sent shares of the seller soaring the most on record.

Milan-based Amplifon will pay 12.6 billion kroner in cash and issue 56 million shares for the business, the companies said Monday in a statement. That amount is “very high” relative to GN Store Nord’s share price, said Per Hansen, an investment economist at Nordnet.