Cyberonics (CYBX) Tops Q3 EPS by 2c

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Go back to Cyberonics (CYBX) Tops Q3 EPS by 2c

Sorin S.p.A. and Cyberonics (CYBX) to Merge in $2.7B Deal

February 26, 2015 6:42 AM EST

Sorin S.p.A. and Cyberonics Inc. (NASDAQ: CYBX)announced their merger plan to create a new global leader in medical technologies with a combined equity value of approximately $2.7 billion (2.4 billion1) based on the closing price of Sorin and Cyberonics shares on 25 February.

The proposed transaction has been unanimously approved by the boards of directors of both companies. Under the terms of the transaction, Sorin and Cyberonics will combine under a newly formed holding company, NewCo, which the parties will name prior to closing. Each Cyberonics stockholder will receive one ordinary share of... More