(Reuters) - Medtronic -- the world's largest maker of medical devices including artificial spinal discs, heart pacemakers and insulin pumps -- would pay $71 cash for each Kyphon share, a 32 percent premium over Thursday's closing price. Kyphon shares rose in value by almost one quarter on the news.
The transaction, slated to close in the first quarter of 2008, is expected to be neutral to Medtronic earnings in the first full fiscal year after closing and boost earnings thereafter. Medtronic expects the deal, which carries a $95 million break-up fee, to generate revenue, cost and tax benefits.
Read more at Reuters.com Business News
The transaction, slated to close in the first quarter of 2008, is expected to be neutral to Medtronic earnings in the first full fiscal year after closing and boost earnings thereafter. Medtronic expects the deal, which carries a $95 million break-up fee, to generate revenue, cost and tax benefits.
Read more at Reuters.com Business News
No comments:
Post a Comment