Piper Jaffray Downgrades Vascular Solutions (VASC) to Neutral

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Vascular Solutions to be Acquired by Teleflex Incorporated

December 2, 2016 6:46 AM EST

MINNEAPOLIS, Dec. 02, 2016 (GLOBE NEWSWIRE) -- Vascular Solutions, Inc. (Nasdaq: VASC) today announced that it has entered into a definitive agreement to be acquired by Teleflex Incorporated (NYSE: TFX) for a purchase price of $56.00 per share in cash. The transaction implies an equity purchase price of $1.0 billion. Upon completion of the transaction, Vascular Solutions will become a wholly owned subsidiary of Teleflex.

The purchase price represents a 16% premium over Vascular Solutions average closing price during the 90 trading days ended December 1, 2016.  In addition, the purchase price is 38.4x the... More