K2M Group Holdings, Inc. Announces Definitive Agreement To Be Acquired by Stryker Corporation
K2M GROUP HOLDINGS INC (KTWO)
Last k2m group holdings inc earnings: 11/8 07:37 am
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US:NASDAQ Investor Relations:
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Source: GlobeNewswire
LEESBURG, Va., Aug. 30, 2018 (GLOBE NEWSWIRE) -- K2M Group Holdings, Inc. (Nasdaq: KTWO) (the “Company” or “K2M”), a global leader of complex spine and minimally invasive solutions focused on achieving three-dimensional Total Body Balance™, today announced a definitive merger agreement with Stryker Corporation (“Stryker”, NYSE: SYK) pursuant to which Stryker has agreed to acquire all of the issued and outstanding shares of common stock of K2M in an all cash transaction for $27.50 per share, or a total equity value of approximately $1.4 billion. The purchase price represents a 27% premium over K2M’s average closing price during the 90 trading days ended August 29, 2018. Upon completion of the proposed transaction, K2M will become a wholly owned subsidiary of Stryker Corporation. Post-closing, K2M’s Chairman, Chief Executive Officer, and President Eric D. Major is expected to be appointed as the President of Stryker’s Spine division. “Joining Stryker will be a very exciting next chap
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