SunTrust Downgrades Heartware Int'l (HTWR) to Neutral

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Go back to SunTrust Downgrades Heartware Int'l (HTWR) to Neutral

Medtronic (MDT) to Acquire HeartWare (HTWR) in ~$1.1B Deal

June 27, 2016 6:46 AM EDT

Medtronic plc (NYSE: MDT) and HeartWare International, Inc. (Nasdaq: HTWR) announced that the companies have entered into a definitive merger agreement under which Medtronic will acquire HeartWare in a transaction valued at approximately $1.1 billion. Under the terms of the agreement, Medtronic will commence a tender offer for all outstanding shares of HeartWare common stock for $58.00 per share, in cash. The boards of directors of both Medtronic and HeartWare have unanimously approved the transaction. The acquisition is expected to close during Medtronic's second fiscal quarter ending Oct. 28, 2016, subject to the satisfaction of... More