Wright Medical Group: 10% Spread Looks Attractive [Seeking Alpha]
WRIGHT MEDICAL GROUP NV (WMGI)
Last wright medical group nv earnings: 2/24 05:04 pm
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US:NASDAQ Investor Relations:
ir.wright.com
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Source: Seeking Alpha
SummaryStryker is acquiring Wright Medical Group (WMGI) for $30.75 per share in a friendly, strategic and synergistic deal.At 10% the deal spread is highly attractive given the deal is set to close in the second half of 2020.M&A spreads have tightened in recent weeks but still not fully recovered from the dislocation caused by the COVID-19 crisis.Stryker / Wright Medical Deal OverviewOn 4 November 2019, Stryker (SYKThe board of directors of both companies have approved the transaction. The deal follows the acquisition by Stryker of spine solutions maker K2M Group, another all-cash deal valued at $1.4 billion.The acquisition is highly strategic bringing together complementary product portfolios expanding Stryker’s presence in the fast growing $5 billion extremities markets, particularly the global shoulder market, where Stryker has been sub-scale for years. Cost synergies of $100-125 million have been pegged.Dislocations Still Abound in the Merger Arbitrage SpaceOrdinarily, announced n
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