Covidien completes tender offer; buys Aspect Medical for $210 million

By Lisa Kerner

Charlotte, N.C., Nov. 6 - Covidien plc announced it acquired Aspect Medical Systems Inc. for a total consideration of about $210 million, net of cash and short-term investments also acquired.

According to Covidien, 16,195,245 shares, of 89.58%, of Aspect common stock had been tendered and not withdrawn in Covidien's $12-per-share tender offer that ended on Thursday.

In addition, 297,066 shares, or approximately 1.64% of the outstanding Aspect common shares, were tendered under guaranteed notices of delivery procedures, a Covidien news release said.

Aspect became an indirect wholly owned subsidiary of Covidien, and its shares ceased trading on the Nasdaq.

Covidien is a Dublin-based health care products company.

Aspect develops brain-monitoring technology. The company is located in is a Norwood, Mass.

© 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.