Medical technologies firm Stryker Corp. has agreed to acquire Novadaq Technologies for about $701 million, Novadaq announced on Monday.
Novadaq is a medical imaging solutions company. The deal is for all of the issued and outstanding shares of Novadaq, priced at $11.75, about 95.8% over the Friday closing price.
The deal is pending approval of a number of groups, including Novadaq shareholders, who will have a special meeting on or about Aug. 4, 2017. Novadaq shares are halted in Monday premarket trading until 8:30 am.
The company’s stock is down more than 36% for the past year while the S&P 500 index is up 17.5% for the period.
By Tonya Garcia
Source: Market Watch
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