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SYK

Stryker

$218.72

0.965 (0.44%)

08:29
08/12/19
08/12
08:29
08/12/19
08:29

TSO3 to be acquired by Stryker for C$0.43 in cash per share

TSO3 announced that it has entered into a definitive arrangement agreement pursuant to which 9402-4874 Quebec Inc., a subsidiary of Stryker, will acquire all of the issued and outstanding common shares of the company for C$0.43 in cash per Share, subject to adjustment in the event the transaction expenses are greater than currently anticipated. The company does not currently expect any adjustment to be made to the Purchase Price and in the event such an adjustment would be required, that it would be minimal. If the Purchase Price is adjusted, the company will issue a press release setting out such adjustment no later than two business days prior to the special meeting of shareholders to be called to approve the transaction. The Purchase Price represents a premium of approximately 18% to the volume weighted average price of the Shares on the Toronto Stock Exchange for the 30 calendar-day period prior to the date hereof. The purchase of 100% of the equity of TSO3 represents a total enterprise value of approximately C$68.4M, including existing indebtedness. The Arrangement Agreement contains representations, warranties and covenants customary for transactions of this nature, including a prohibition against the Company soliciting or initiating any inquiries or discussions regarding any other business combination or sale of assets, subject to the fiduciary duty of the Board of Directors in the event that an unsolicited superior proposal is received by the company and the right in favour of Stryker to match any superior proposal. A termination fee of C$3.076M is payable to Stryker in certain circumstances, including if Stryker fails to exercise its right to match in the context of a superior proposal and the company elects to terminate the Arrangement Agreement prior to the company's shareholders voting to approve the Arrangement.

  • 09

    Sep

SYK Stryker
$218.72

0.965 (0.44%)

07/15/19
BTIG
07/15/19
NO CHANGE
Target $219
BTIG
Buy
Stryker price target raised to $219 from $205 at BTIG
BTIG analyst Ryan Zimmerman raised his price target on Stryker to $219 and kept his Buy rating as part of his Q2 MedTech earnings preview research note, saying the quarter should prove to be "more defensive than opportunistic" and that investors should consider long-short sector strategies over momentum-driven trades. The analyst is positive on Stryker's capital order book and believes that it has a clear line of sight on growth through FY19, adding that the company is also growing the staff count as intended.
07/26/19
PIPR
07/26/19
NO CHANGE
Target $240
PIPR
Overweight
Stryker price target raised to $240 from $205 at Piper Jaffray
Piper Jaffray analyst Matt O'Brien raised his price target for Stryker to $240 from $205 after the company reported fiscal Q2 results that beat top and bottom line expectations, and raised its full-year growth and earnings outlook. Domestic Mako placements, up 30% year-over-year came in ahead of expectations, and momentum across the entire MedSurg business carried the majority of the beat, O'Brien tells investors in a research note. In addition, a number of new products are coming in the second half of the year, as well as "meaningful" operating leverage from efficiency initiatives, says the analyst. He maintains an Overweight rating on Stryker.
07/26/19
CANT
07/26/19
NO CHANGE
Target $230
CANT
Overweight
Stryker price target raised to $230 from $190 at Cantor Fitzgerald
Cantor Fitzgerald analyst Craig Bijou raised his price target for Stryker to $230 from $190 citing the company's "impressive" Q2 results. The analyst, however, thinks investor expectations for the stock "remain lofty." He keeps a Neutral rating on the shares.
07/26/19
ADAM
07/26/19
NO CHANGE
Target $233
ADAM
Buy
Stryker price target raised to $233 from $195 at Canaccord
Canaccord analyst Kyle Rose raised his price target on Stryker to $233 from $195 following strong Q2 results. The analyst said there was momentum across the entire portfolio and operationally, its earnings reflected strong sales growth and operating expense improvements. Rose reiterated his Buy rating on Stryker shares.

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AAPL

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FLEX

Flex

$10.05

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SIG

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-1.24 (-2.41%)

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$50.32

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TRMD

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$NSD

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$NYE

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VUZI

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TJX

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ZUO

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FB

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