Altus Capital commences tender offer for shares of MGC Diagnostics
Altus Capital Partners announced that Altus' affiliate, AC Breathe Merger Sub Inc., has commenced the previously-announced tender offer for all of the outstanding shares of common stock of MGC Diagnostics at a price of $11.03 per share, net to the seller in cash without interest. On November 27, MGC announced that the company and affiliates of Altus had entered into a definitive merger agreement pursuant to which the tender offer would be made. MGC's Board of Directors unanimously approved the merger agreement and the transactions contemplated thereby, including the tender offer and the merger, and recommends that MGC's shareholders tender their shares in the tender offer. The completion of the tender offer is conditioned upon, among other things, satisfaction of a minimum tender condition and other customary closing conditions. The tender offer and withdrawal rights are scheduled to expire at 12:00 midnight, New York City time, at the end of December 27, 2017, unless extended or earlier terminated in accordance with the terms of the merger agreement. Upon the completion of the transaction, MGC will become a privately held company.