Medical glove maker Ansell has struck a deal to acquire US giant Kimberly-Clark Corporation’s personal protective equipment business under the Kimtech and KleenGuard brands for $US640 million ($974 million) in cash.

The company will raise $400 million in capital through a fully underwritten placement priced at $22.45 a share and aims to bolster its balance sheet further with up to $65 million from a share purchase plan. The raising was struck at a 6 per cent discount to Friday’s closing price of $23.89.