Jefferies Downgrades Volcano Corp. (VOLC) to Hold
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Philips N.V. (PHG) to Acquire Volcano (VOLC) in $1B Deal
December 17, 2014 6:00 AM ESTPhilips N.V. (NYSE: PHG) and Volcano Corporation (Nasdaq: VOLC) announced that they have entered into a definitive merger agreement. Pursuant to the agreement, Philips will commence a tender offer to acquire all of the issued and outstanding shares of Volcano for USD 18.00 per share, or a total equity purchase price of USD 1 billion (approx. EUR 800 million), to be paid in cash upon completion. The board of directors of Volcano has unanimously approved the transaction and recommends the offer to its shareholders. The transaction is... More
