S&P Places Stryker (SYK) Ratings on Review for Downgrade
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Smith & Nephew (SNN) Ticks Lower Amid New Stryker (SYK) M&A Deal
February 1, 2016 7:46 AM ESTSmith & Nephew (NYSE: SNN) shares are ticking lower amid M&A news Monday morning.
Stryker (SYK) to Acquire Sage Products in $2.78B Deal
February 1, 2016 7:33 AM ESTStryker Corporation (NYSE: SYK) announced today a definitive agreement to acquire Sage Products, LLC ("Sage") from Madison Dearborn Partners in an all cash transaction for $2.775 billion. The transaction includes an anticipated future tax benefit which is expected to exceed $500 million and to positively impact cash flows over approximately 15 years. Sage develops, manufactures and distributes disposable products targeted at reducing "Never Events," primarily in the intensive care unit and MedSurg hospital unit setting. Sage sales for fiscal 2015 totaled $430 million, up 13% over the prior year.
"The company's established leadership team and innovative products that... More
