LDRH
LDR Holding CorporationNASDAQ
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  • Tue, Jun. 7, 7:30 AM
    • Zimmer Biomet Holdings (NYSE:ZBH) acquires French spine surgery device maker LDR Holding Corp. (NASDAQ:LDRH) for $37 per share in cash (~$1B), almost a 64% premium to yesterday's close of $22.58. The deal should close in Q3. The transaction is expected to be neutral to non-GAAP EPS in 2017 and accretive thereafter.
    • LDR, founded in 2000, designs devices that make spine surgeries easier to perform while improving clinical outcomes in the treatment of spine disorders.
    • Zimmer Biomet reiterates its previous 2016 guidance of revenue growth of 2 - 3% and non-GAAP EPS of $7.85 - 8.00.
    • Update: On July 13, Zimmer announced that it successfully completed the tender offer. The number of shares tendered was 24,278,729 (82.7% of LDR's outstanding shares). Notices of Guaranteed Delivery were received for an additional 1,826,189 shares (6.2% of the total outstanding).
    | Tue, Jun. 7, 7:30 AM | 1 Comment