Syneron Candela sold for nearly $400M

|About: Syneron Medical Ltd. (ELOS)|By:, SA News Editor

The all-cash buyer is P-E player Apax Partners, and the price works out to $11 per share vs. Friday's close of $10.55. The price is a 33% premium to the area Syneron traded in prior to Feb. 10 media speculation of a sale.

The agreement includes a go-shop period ending on May 9.

ELOS is higher by 18.5% to $12.50 per share, suggesting either some believe a bidding war is coming, or just very thin premarket action.

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