CORRECTED-UPDATE 2-Exactech gets higher $737 mln cash offer from TPG Capital [Reuters]
EXACTECH (EXAC)
Last exactech earnings: 10/30 04:05 pm
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Source: Reuters
Exactech gets higher $737 million cash offer from TPG Capital | Reuters 3 Min Read (Reuters) - Medical device maker Exactech Inc ( EXAC.O ) said on Monday TPG Capital raised its offer to buy the company to $737 million cash and its board agreed to the amended terms, saying the offer was in the best interests of shareholders. The revised offer of $49.25 per share represents an increase of 17.3 percent to the previously announced $42 per share on Oct. 23, the company said. The increase came in response to a last-minute, unsolicited bid from another private equity firm, according to securities filings. The company’s stock closed up 19 percent at $50.42 following the announcement. Exactech expects the deal to close during the first quarter of 2018. The company develops and produces orthopedic implants and surgical instrumentation for extremities and large joints. By going private, Exactech could benefit from being able to complete a transition to a different distributor model outside of
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