Stryker (NYSE:SYK) said today that it closed its $1.4 billion acquisition of K2M (NSDQ:KTWO). Kalamazoo, Mich.-based Stryker paid $27.50 per share for each outstanding share of K2M, representing a 27% premium over K2M’s average closing price during the 90 days of trading ended August 29. With the acquisition, Leesburg, Va.-based K2M will become a wholly owned subsidiary […]
FTC clears Stryker, K2M tie-up early
K2M (NSDQ:KTWO) said today that the U.S. FTC granted early termination to the Hart-Scott-Rodino Antitrust Improvement Act of 1976 waiting period for its pending $1.4 merger with Stryker (NYSE:SYK). The termination of the HSR Act clears yet another hurdle to the union between the two companies, which will position K2M as a wholly owned subsidiary of Kalamazoo, […]
K2M shareholders approve Stryker merger
K2M (NSDQ:KTWO) said today that its shareholders approved its $1.4 billion merger with Stryker (NYSE:SYK) during a special meeting of stockholders. 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 […]
K2M settles investor suits with updated financials on $1.4B Stryker merger
K2M (NSDQ:KTWO) yesterday managed to mollify investors who sued to block its $1.4 billion merger with Stryker (NYSE:SYK) by releasing more details on its financials. Investors leveled the suits in the U.S. District Court for Delaware earlier this month seeking to block the deal. The purported class-action suits argued that K2M and its management failed to disclose financial projections made by […]
Stryker extends deadline on $1.4B K2M buy as shareholders sue
Stryker (NYSE:SYK) yesterday filed to extend the anti-trust deadline on its $1.4 billion acquisition of K2M (NSDQ:KTWO) to give the U.S. Federal Trade Commission more time to examine the deal, as shareholders filed suit to block the merger, K2M said today. The new FTC filing pushes the anti-monopoly waiting period out to Nov. 16, the Leesburg, Va.-based spinal […]
How K2M Tackled UDI and What Comes Next with help from Reed Tech
Mark Zellers, Quality Assurance Specialist at K2M, is responsible for ensuring his company’s data is accurate and kept up-to-date with all sorts of outside stakeholders. One of his colleagues handles internal data management and Zellers ensures it gets to the people who need it outside K2M. A big challenge facing his team came in 2015, […]
Medtech M&A remains hot: Here’s how
M&A in medtech show no signs of slowing in the fourth quarter of 2018, and companies looking to buy or sell have much to consider, according to patent attorney David Dykeman, a shareholder in the Boston office of the global law firm Greenberg Traurig. The number of medtech M&A deals soared by 50% in 2017 and […]
What you should know about today’s top trends in medtech
Medtech’s hottest topics in M&A, intellectual property, finance and regulation will be on the agenda at DeviceTalks Boston Oct. 8-11. Patent attorney David Dykeman from the Boston office of the global law firm Greenberg Traurig will moderate the Oct. 9 hot topics panel in which the discussion will center around: · M&A trends from the perspective of […]
Stryker to acquire K2M for $1.4B
Stryker (NYSE:SYK) said today it inked a definitive agreement to acquire K2M (NSDQ:KTWO) for approximately $1.4 billion. In the deal, Kalamazoo, Mich.-based Stryker said it will pay $27.50 per share for each outstanding share of K2M, for a total of approximately $1.4 billion. The purchase price represents a 27% premium over K2M’s average closing price during the 90 […]
K2M posts mixed-bag Q2
K2M (NSDQ:KTWO) today posted second quarter earnings results that beat Wall Street expectations on sales, but missed on loss-per-share consensus. The Leesburg, Va.-based company posted losses of $10.8 million, or 25¢ per share, on sales of $73.6 million for the three months ended June 30, seeing losses grow 19.2% on sales growth of 12% compared with the […]
K2M readies $65 million senior note offering
K2M (NSDQ:KTWO) said this week it looks to raise $65 million through an offering of convertible senior notes due 2025. The Leesburg, Va.-based company said it also expects to grant initial note buyers an option to purchase an additional $10 million worth of the notes during a 13-day period beginning the first day it issues the notes. […]
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