By staff writers

August 9, 2017 -- Royal Philips, the parent company of Philips Healthcare, has completed its tender offer for vascular intervention equipment manufacturer Spectranetics.

As a result, Philips expects it will finalize its $2.2 billion acquisition of Spectranetics on August 9. Spectranetics shareholders will receive $38.50 per share in cash.

Spectranetics will now become a wholly owned subsidiary of Philips.

Copyright © 2017

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