The deal calls for Kalamazoo, Mich.-based Stryker to pay $27.50 per share for each outstanding share of K2M, for a 27% premium over K2M’s average closing price during the 90 days of trading ended August 29.
K2M will become a wholly-owned subsidiary of Stryker upon closing, the companies said. Both firms are “actively working towards closing,” and are hopeful it will complete during the fourth quarter, according to a press release.
Last month, K2M mollified investors who sued to block its $1.4 billion merger with K2M by releasing more details on its financials.
At DeviceTalks Boston, Tyler Shultz will give attendees an inside look at Theranos and how he was able to sound the alarm after he realized the company was falling apart. Shultz will take attendees behind the story that everyone is talking about: the rise and fall of Elizabeth Holmes and her diagnostic company, Theranos.
Join Shultz and 1,000+ medical device professionals at the 8th annual DeviceTalks Boston.