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Wright Medical and Tornier complete merger

Oct. 01, 2015 11:37 AM ETWright Medical Group N.V. (WMGI) StockBy: Douglas W. House, SA News Editor
  • Wright Medical Group (NASDAQ:WMGI +1.2%) and Tornier N.V. (OTCPK:TRNX +1.1%) complete their previously announced merger. Each share of Wright was exchanged for 1.0309 shares of Tornier.
  • Under the terms of the deal, a wholly owned subsidiary of Tornier merged with and into Wright with Wright continuing as the surviving firm and a wholly owned subsidiary of Tornier. The combined company will do business as Wright Medical Group N.V., trading under the symbol "WMGI" starting tomorrow.
  • Wright expects top-line growth in the mid-teens and non-GAAP EBITDA margins close to 20% in three to four years. Updated guidance for 2015 will be provided during the company's Q3 earnings call on November 4.
  • Previously: Wright Medical and Tornier merge (Oct. 27, 2014)

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