Toshiba Medical Systems Corp. came one step closer the $273 million acquisition of Vital Images Inc. (NSDQ:VTAL) with the announcement that the initial tender offer period had expired.
A total of 11.9 million shares were tendered by expiration time, representing about 72 percent of Vital Images’ outstanding common stock on a fully diluted basis.
Toshiba paid $18.75 per share in cash, a 39 percent premium over the volume-weighted average for Vital’s share price from the 30 days prior to the deal, and the same price extends to the subsequent tender offer period, which is set to expire on June 15.
The companies entered into a definitive agreement for the acquisition early in May.
Here’s a roundup of companies announcing mergers, acquisitions and divestitures.
- Generex and Global Medical call it quits
Generex Biotechnology Corp. (OTC:GNBT) pulled the plug on plans to acquire Global Medical Direct Inc.
Generex, a Toronto, Canada-based company focused on drug delivery platforms, announced plans to acquire 51 percent of Global Medical in October 2010. The acquisition date was extended in December after a letter from the Nasdaq Listing and Hearing Review Council affirming its decision to suspend Generex’s listing on the Nasdaq Capital Market.
In the recent decision, Generex officials said the company plans to focus its resources on its existing product pipelines and its recent research and collaboration partnership with Amarantus BioSciences Inc.
- Brainlab acquires Voyant Health
Brainlab entered into a definitive agreement to purchase Voyant Health, the details of which were undisclosed. Brainlab’s software-driven medical technologies will be complemented by Voyant’s focus on orthopedic surgical planning solutions. Brainlab is just coming from a May 510(k) win for its HybridArc radiosurgery planning solution.
- Archer Capital buys Healthe Care for $246 million
Archer Capital outbid Pacific Equity Partners to acquire Healthe Care, which owns 12 private hospitals in Australia, for $246 million. Archer is one of Australia’s four biggest buyout firms, according to Reuters.
- TomoTherapy shareholders OK acquisition by Accuray
Accuray Inc.’s (NSDQ:ARAY) shareholders approved the company’s bid to acquire TomoTherapy Inc. (NSDQ:TOMO), a deal valued at $300 million. More than 98 percent of votes cast and 79 percent of outstanding shares were voted in favor of the merger. Accuray announced that it had signed an agreement to buy TomoTherapy for $4.80 per share in cash and stock March 7. The purchase price was a nearly 31 percent premium over TOMO’s $3.67 closing price Friday, March 4.