HealthTronics (HTRN) and Endocare (ENDO) to Merge
HealthTronics, Inc. (Nasdaq: HTRN) and Endocare, Inc. (Nasdaq: ENDO) have entered into a definitive merger agreement that has been unanimously approved by the boards of directors of each company.
Under the terms of the new merger agreement, HealthTronics has agreed to acquire all of the outstanding shares of Endocare common stock pursuant to an exchange offer in which Endocare stockholders can elect to receive for each Endocare share $1.35 per share in cash, provided that the cash consideration does not exceed 50% of the total consideration, or 0.7764 shares of HeathTronics' stock, provided that the stock consideration does not exceed 75% of the total consideration.
Shares of Endocare closed at $0.90 per share on Friday.
Under the terms of the new merger agreement, HealthTronics has agreed to acquire all of the outstanding shares of Endocare common stock pursuant to an exchange offer in which Endocare stockholders can elect to receive for each Endocare share $1.35 per share in cash, provided that the cash consideration does not exceed 50% of the total consideration, or 0.7764 shares of HeathTronics' stock, provided that the stock consideration does not exceed 75% of the total consideration.
Shares of Endocare closed at $0.90 per share on Friday.
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