Healthcare technology firm Covidien of Dublin, Ireland, has completed its tender offer to purchase all outstanding shares of common stock of ev3 of Plymouth, MN.
Covidien offered $22.50 per share for the interventional device firm, making the acquisition worth $2.6 billion. A total of approximately 100.8 million shares of ev3 common stock were tendered by the July 9 deadline.
Following completion of the transaction, ev3 will become an indirect wholly owned subsidiary of Covidien.
Last week, ev3 agreed to settle several shareholder lawsuits that alleged ev3 breached its fiduciary duties in approving the proposed acquisition and failing to disclose how it evaluated Covidien's offer. The settlements allowed the acquisition to proceed.
Related Reading
ev3 to settle lawsuits from Covidien deal, July 9, 2010
Covidien sees short July Tc-99m supply, July 2, 2010
Suit seeks to block Covidien, ev3 deal, June 24, 2010
Covidien to buy ev3 for $2.6B, June 1, 2010
ev3 posts mixed results for 2008, February 24, 2009
ev3 posts mixed Q2 results, halts Merck deal, July 29, 2008
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