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Stryker to acquire Novadaq for $701M

June 19, 2017

Medical technologies firm Stryker Corp. has agreed to acquire Novadaq Technologies for about $701 million, Novadaq announced on Monday. Novadaq is a medical imaging solutions company. The deal is for all of the issued and outstanding shares of Novadaq, priced at $11.75, about 95.8% over the Friday closing price. The deal is pending approval of a number of groups, including Novadaq shareholders, who will have a special meeting on or about Aug. 4, 2017. Novadaq shares are halted in Monday premarket trading until 8:30 am. The company’s stock is down more than 36% for the past year while the S&P 500 index SPX, +0.51% is up 17.5% for the period.

http://on.mktw.net/2tk7FNI

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