STE
Steris CorporationNYSE
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  • Fri, Jul. 1, 7:23 AM
    • In a regulatory filing, Steris plc (NYSE:STE) discloses that is has sold its UK Linen Management Services business to STAR Mayan Limited for ~₤50M. The unit is projected to generate ~₤40M in revenue in fiscal 2017. The company says it will continue to its business for opportunities to optimize its portfolio of products and services.
    | Fri, Jul. 1, 7:23 AM
  • Sep. 24, 2015, 5:42 PM
    • The U.S. District Court for the Northern District of Ohio denies the Federal Trade Commission's request for a preliminary injunction to block Steris's (NYSE:STE) takeover of Synergy Health (OTC:SYHEF). The FTC sought to delay the deal until it could conduct an administrative trial on the merits of the transaction.
    • Steris is now clear to consummate the merger, which CEO Walt Rosebrough says will be expeditious.
    • STE shares are unchanged after hours.
    • Previously: Steris to contest FTC action (May 29)
    • Previously: FTC challenges Steris/Synergy Health merger on antitrust basis (May 29)
    | Sep. 24, 2015, 5:42 PM
  • May 29, 2015, 11:58 AM
    • In a regulatory filing, Steris (STE +0.7%) discloses that it plans to contest the FTC's action to postpone its intended acquisition of Synergy Health pending a trial on the merits of the transaction, currently scheduled to begin on October 28.
    • CEO Walt Rosebrough says, "It is unfortunate that we have come to this point with a transaction as strategic and geographically complimentary as ours. We have worked diligently to the address the FTC's concerns and to avoid litigation, but we will now focus our efforts on prevailing in court."
    • Previously: FTC challenges Steris/Synergy Health merger on antitrust basis (May 29)
    | May 29, 2015, 11:58 AM
  • May 29, 2015, 11:22 AM
    • The U.S. Federal Trade Commission issues a complaint charging that Steris's (STE -0.5%) proposed $1.9B acquisition of UK-based Synergy Health plc (OTC:SYHEF) would violate antitrust laws by significantly reducing future competition in regional markets for the sterilization of products using radiation, particularly gamma or x-ray radiation.
    • The Commission will seek a temporary restraining order and preliminary injunction in federal court to postpone the transaction pending an administrative trial on the merits of the deal, which is scheduled for October 28.
    • Previously: Steris to buy Britain's Synergy for $1.9B (Oct. 13, 2014)
    | May 29, 2015, 11:22 AM
  • Oct. 13, 2014, 4:50 AM
    • Steris (NYSE:STE) has agreed to acquire the U.K.'s Synergy Health (OTC:SYHEF) for $1.9B in cash and stock.
    • The deal values Synergy's shares at £19.50 ($31.35) each, or a 39% premium to the stock's closing price of £14 on Friday.
    • Similar to other transactions in which American companies have bought U.K. peers, the "new Steris" will be incorporated in the U.K. while its operational HQ will remain in the U.S. A main reason is that the U.K. has a friendlier tax environment.
    • The deal will bring together Steris' Infection Prevention & Services businesses with Synergy's Hospital Sterilization Services.
    • Synergy shareholders will hold 30% of Steris' stock following the deal.
    • The combined company is expected to generate revenue of $2.6B and employ 14,000 workers. (PR)
    | Oct. 13, 2014, 4:50 AM
  • Jul. 17, 2012, 12:38 PM

    Steris (STE +0.1%) agrees to acquire privately held U.S. Endoscopy Group for $270M in a deal that will expand Steris' presence in the medical-device market for gastrointestinal diseases. Steris expects the transaction to reduce its FY 2013 EPS by $0.05 but add to earnings from 2014. (PR)

    | Jul. 17, 2012, 12:38 PM