Brought to you by 
Guidant buys CTS for $313mm in stock
03 Sep 1999
Executive Summary
Guidant is buying minimally invasive surgical company CardioThoracic Systems in a stock swap that values CTS common shares at $19.50 each, a slight premium ((pr)2%) to its 10-day pre-announcement price. The transaction values CTS at $313mm, and will be accounted for as a pooling of interest. Although the premium is small, CTS's stock is trading at its highest price in several years. It went public in 1996 at $18, but last September its shares were trading in the $3-4 range, and have steadily increased since then.
Deal Industry
-
Medical Devices
-
Surgical Equipment & Devices
- Minimally or Less Invasive
-
Surgical Equipment & Devices
Deal Status
- Final
Deal Type
-
Acquisition
- Full Acquisition
- Payment Includes Stock
Already a Biomedtracker subscriber?
You have access to the full deal record through your subscription
Want to become a subscriber?
Subscribers get more deal details, updates, deal financials and deal products.
Questions?
Questions?
Please contact Sales at: (212) 520-2765 or email PharmaNewsSales@informa.com