CORRECTED-UPDATE 2-Exactech gets higher $737 mln cash offer from TPG Capital [Reuters (UK)]
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 (The Dec. 4 story was refiled to correct paragraph 5 to show that Exactech will not be pursuing a wholesale transition of its distributor model) By Carl O‘Donnell (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 instrumentat
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