Greatbatch acquires majority of Enpath shares

By Lisa Kerner

Charlotte, N.C., June 8 - Greatbatch Ltd. said it acquired 5,790,211 shares, or roughly 90.1%, of Enpath Medical, Inc.'s stock in the $14.38-per-share tender offer that ended June 5.

The merger of the two companies is expected to occur on or about June 15, an 8-K filing with the Securities and Exchange Commission stated.

On April 30, Greatbatch announced a definitive merger agreement to acquire Enpath in a transaction valued at $102 million, including debt. The agreement included a $3 million termination fee.

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 components used in implantable medical devices and other applications.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.