Steris (NYSE:STE) shares are up nearly 8% since the company last week issued its 1st post-merger guidance since its $2 billion merger with the U.K.’s Synergy Health, as investors reacted to a top-line growth forecast of 21% to 22% for fiscal 2016. Mentor, Ohio-based Steris closed the Synergy merger Nov. 2 in a so-called inversion deal, in which it re-incorporated as a […]
Synergy Health
Steris closes $2B Synergy Health merger
As expected, Steris (NYSE:STE) said today that it closed a $2 billion merger with the U.K.’s Synergy Health, after the U.S. Federal Trade Commission last week abandoned its bid to block the union. Last month a federal judge today shot down the U.S. Federal Trade Commission’s bid to block the pending, $1.9 billion merger. Today the Mentor, Ohio-based company said […]
Steris to close $2B Synergy Health buyout next week
Steris (NYSE:STE) said today that it expects to close the $2 billion merger with the U.K.’s Synergy Health next week, reporting fiscal 2nd-quarter numbers that beat expectations on Wall Street despite a -72% bottom-line plunge. Last month a federal judge today shot down the U.S. Federal Trade Commission’s bid to block the pending, $1.9 billion merger. Today Steris said it […]
Steris shareholder sues over exec tax reimbursements
A Steris (NYSE:STE) shareholder sued the company over issues with tax reimbursements being distributed to board members and executives to cover tax liability due to the company’s merger with Synergy Health, according to an SEC filing. U.S. tax laws impose a 15% excise tax on stock owned by executives and directors for the 6 months before […]
FTC loses bid to block $2B Steris-Synergy merger
A federal judge today shot down the U.S. Federal Trade Commission’s bid to block the pending, $1.9 billion merger between Steris (NYSE:STE) and Synergy Health. The FTC claimed that Synergy was ready to bring new X-ray sterilization technology to the U.S., but pulled the plug after Steris put up its $1.9 billion offer and the FTC opened its investigation. Judge […]
Steris, Synergy delay shareholder votes ahead of anti-trust ruling on $2B merger
Steris (NYSE:STE) and Synergy Health postponed their shareholders meetings to give a U.S. court time to rule on the Federal Trade Commission’s bid to halt their $1.9 billion merger. Mentor, Ohio-based Steris said it moved its meeting from Sept. 24 to Oct. 2; Synergy plans to hold its vote the same day, according to a regulatory filing. Earlier […]
FTC says evidence exists to block $2B Steris-Synergy buy
The Federal Trade Commission said it has evidence showing Synergy Health was ready to bring new technology to the U.S. sterilization market before Steris (NYSE:STE) offered $1.9 billion to purchase the company, and is seeking seeking an injunction to block the deal. The FTC claims Synergy was fully vested in a plan to expand into x-ray sterilization […]
Steris, Synergy delay merger vote over FTC request
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