Cooper Cos. (COO) Unit Acquires Smiths Medical's Wallace
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The Cooper Companies Acquires Wallace From Smiths Medical
November 7, 2016 2:00 AM ESTPLEASANTON, Calif., Nov. 06, 2016 (GLOBE NEWSWIRE) -- The Cooper Companies, Inc. (NYSE: COO) today announced that CooperSurgical has acquired Wallace, the in-vitro fertilization (IVF) segment of Smiths Medical, a division of Smiths Group plc, for a purchase price of approximately $168 million subject to customary closing adjustments. Wallace reported sales of approximately $29 million in the last twelve months. Excluding non-recurring items and deal-related amortization, the transaction is expected to be approximately $0.10 accretive to earnings per share in fiscal 2017.
Commenting on the transaction, Robert S. Weiss, Cooper's president and chief executive officer said, This... More
