Waiting period ends in Greatbatch acquisition of Enpath Medical, tender offer expires June 5

By Lisa Kerner

Charlotte, N.C., May 30 - The Hart-Scott-Rodino waiting period has expired in the proposed acquisition of Enpath Medical, Inc. by Greatbatch, Inc.

Greatbatch began an all-cash, $14.38-per-share tender offer for Enpath on May 8. The offer expires at midnight ET on June 5, according to a company news release.

Both companies' boards of directors approved the transaction, valued at $102 million including debt, on April 30.

A termination fee of $3 million is included in the agreement, according to an 8-K filing with the Securities and Exchange Commission.

Greatbatch will fund the transaction, expected to close in June, with available cash. Both companies' boards of directors have unanimously approved the deal.

Enpath is a Minneapolis medical products company specializing in products for the cardiac rhythm management, neuromodulation and interventional radiology markets.

Greatbatch, based in Clarence, N.Y., develops and manufactures critical components used in implantable medical devices and other applications.

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