- 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)