Indian firm to buy out Cardiac Science

October 19, 2010 by MassDevice staff

Bangalore-based Opto Circuits Ltd. enters into an cash-based acquisition deal for Cardiac Science Corp.

Opto Circuits, CSCX logos

Opto Circuits (India) Ltd. (BSE:532391) entered into a merger agreement with Cardiac Science Corp. (NSDQ:CSCX).

The Bangalore, India-based medical device developer plans to acquire Cardiac Science in an all-cash tender offer for $2.30 per share, a 10 percent premium over its Oct. 18 closing price and a 30 percent premium on CSCX's average closing price over the last 100 days.

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