Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers K > Headlines for Kyphon Inc. > News item |
Kyphon stockholders approve Medtronic merger
By Lisa Kerner
Charlotte, N.C., Oct. 16 - Kyphon Inc. stockholders voted to adopt the July 26 merger agreement with Medtronic, Inc. at a special meeting on Tuesday.
Medtronic agreed to acquire all of the outstanding shares of Kyphon common stock for $71 per share in cash. The transaction, valued at some $3.9 billion, is slated to close following clearance from antitrust authorities in Portugal and Turkey, sometime after Nov. 1, a company news release stated.
Medtronic's spinal surgery focus has been on younger patients suffering from scoliosis and degenerative disc disease in the cervical and lumbar spine. The company is based in Minneapolis.
Kyphon, a Sunnyvale, Calif., medical device company, specializes in the treatment of older patients suffering from vertebral compression fractures and spinal stenosis.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.