ev3 to pay more than $81 million in FoxHollow merger deal

By Lisa Kerner

Charlotte, N.C., Oct. 18 - ev3 Inc. said it will issue roughly 43.1 million shares of ev3 common stock and pay some $81.8 million in cash following the completed merger of the company with FoxHollow Technologies, Inc. Shareholders approved the merger on Oct. 4.

Each FoxHollow shareholder electing cash will receive $21.427 in cash and 0.281 of an ev3 share for each share of FoxHollow common stock, a company news release stated.

Those electing stock will receive 1.62 shares of ev3 per FoxHollow share.

Stockholders electing mixed consideration and those who did not make an election will receive 1.45 shares of ev3 and $2.75 in cash for each FoxHollow share.

FoxHollow stockholders who would otherwise be entitled to receive ev3 fractional shares will receive an amount in cash based on $16.32 per share of ev3 common stock.

It was previously reported that FoxHollow is now a wholly owned subsidiary of ev3. FoxHollow shareholders own 41% of the combined company, and ev3 shareholders own the remaining 59%. FoxHollow shares are no longer traded.

ev3, based in Plymouth, Minn., is a medical device company specializing in endovascular technologies for the minimally invasive treatment of vascular diseases and disorders.

Redwood City, Calif.-based FoxHollow develops and markets minimally invasive devices for the removal of plaque and thrombus and for the treatment of peripheral artery disease.

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