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KYPH Shares Up 24% on News of Medtronic Buyout Valued at $3.9B.
0 Comments | M2 Presswire, July, 2007
M2 PRESSWIRE-27 July 2007-Emerging Stock Report: KYPH Shares Up 24% on News of Medtronic Buyout Valued at $3.9B(C)1994-2007 M2 COMMUNICATIONS LTD RDATE:27072007 Chicago - Medical Sector- Medtronic, Inc. (NYSE:MDT) and Kyphon (NASDAQ:KYPH) today announced that the companies have signed a definitive merger agreement under which Medtronic will acquire all of the outstanding shares of Kyphon for $71 per share in cash.
The transaction, which was unanimously approved by the boards of directors of both companies, is valued at approximately $3.9 billion. This excludes $320 million in payments associated with the St. Francis Medical Technologies, Inc. and Disc-O-Tech Medical Technologies, Ltd. transactions. ABOUT MEDTRONIC Medtronic, Inc. (info@m2.com)).
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