While many bullish analysts and investors had previously mentioned the possibility of MAKO Surgical (NASDAQ:MAKO) receiving an attractive buyout bid, the reality proved even better than expected. On Wednesday morning, MAKO and Stryker (NYSE:SYK) announced that the two companies had agreed on a deal that will see Stryker buy MAKO for $30 share in cash - a $1.65 billion deal that exceeded the highest sell-side price target on MAKO by 15%.
With only scant odds that a rival bidder will top Stryker's offer, the MAKO story comes to a relatively happy conclusion. What's more, Stryker would seem to be an ideal partner to grow MAKO's business and maximize the potential of the robot-assisted makoplasty concept.
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