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BUZZ-Steris Corp: Synergy Health PLC acquisition still on track

Thu, 24th Sep 2015 19:21

** Steris up more than 6.6 pct at $67.07 after afederal court denies FTC request to block co's $1.9 blnacquisition of British sterilization services provider SynergyHealth PLC

** Medical technology provider's shares having their bestday since May 2014, pop back above their 50-day and 200-daymoving averages for first time since Aug swoon

** FTC filed a lawsuit in May aimed at halting the deal,arguing tie-up would hurt customers of the two co's byeliminating competition

** Court judge says FTC failed to show "by a preponderanceof evidence" that it was likely to succeed on the merits of thecase

** Steris and Synergy shareholder votes on transaction setfor Oct 2 and deadline to complete deal recently extended to Dec31

** Cleveland-based Steris looks to reincorporate combinedentity in Britain. So called "inversion deals" can allow USfirms to get lower overseas tax treatment

** Synergy Health's stock closed before today's announcementat $1,580p/share, up about 1 pct

(RM: lance.tupper.thomsonreuters.com@reuters.net)

More News
13 Oct 2014 15:00

Synergy Health takeover at an 'attractive price', says analysts

Shareholders of UK sterilisation services provider Synergy Health should be happy with Monday's news of a £1.2bn recommended takeover from US group Steris Corp, according to analysts. The cash-and-stock deal, which values each Synergy share at 1,950p, represents a 39% premium to its closing price of

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13 Oct 2014 13:01

BUZZ-Steris Corp: To cut tax bill through British company acquisition

** Medical technology company's shares up 2 pct at $57.50 premarket ** Says to buy British sterilisation services provider Synergy Health Plc for about $1.9 billion, shifting its domicile to the UK and cut its tax bill ** The new company expected to have effective tax rate of about 25

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13 Oct 2014 11:35

London midday: Stocks erase losses on mining strength, Synergy soars

After a weak start, UK stocks had erased losses by Monday lunchtime, helped by decent gains in the heavyweight mining sector and a takeover offer for Synergy Health. London's FTSE 100 was trading 0.3% higher at 6,358 by around midday, bouncing off a low of 6,302 reached in early deals. UK equities

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13 Oct 2014 11:25

Synergy Health rockets after Steris Corp. agrees $1.9bn buy-out - UPDATE

Synergy Health shares rocketed after it was announced US-based medical technology group Steris Corp. had agreed to buy the UK company for $1.9bn. Synergy shareholders will be paid 439p a share in cash and 0.4308 shares in the newly combined group, valuing shares in the FTSE 250 group at £1.2bn, or 1

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13 Oct 2014 11:08

UK MIDDAY BRIEFING: Synergy Health Soars On Steris Takeover Deal

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13 Oct 2014 10:32

UK WINNERS & LOSERS: Synergy Health Recommends Takeover, Surges 30%

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13 Oct 2014 10:20

TOP NEWS: Synergy Health Agrees To USD1.9 Billion US Takeover

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13 Oct 2014 09:53

UPDATE 1-US-based Steris to buy UK's Synergy Health, tax savings eyed

* Steris to set up new company incorporated in UK * Tax rate seen falling to 25 pct 2015/16 from 31.3 pct in 13/14 * Offers 439 pence per share plus 0.4308 shares in new UK company * Offer valued at 19.50 stg per share, 39 pct premium (Adds details, Synergy Health share moveme

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13 Oct 2014 09:49

2nd UPDATE: Synergy Health Surges As It Agrees To Be Bought By Steris

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13 Oct 2014 09:43

MARKET COMMENT: Miners Help Lift FTSE 100 Off 15-Month Low

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13 Oct 2014 09:41

UPDATE: Synergy Health Surges As It Agrees To Be Bought By Steris

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13 Oct 2014 09:37

BUZZ-Synergy Health: Up 33 pct to life-high on deal with Steris

** The British sterlisation services provider's shares up as much as 33 pct after Steris Corp said it had offered to buy the co for about $1.9 bln. ** Steris offered to pay Synergy Health shareholders 439 pence per share in cash and 0.4308 shares in the new company. ** Synergy Health

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13 Oct 2014 08:24

Steris Corp to buy Britain's Synergy Health for $1.9 bln

Oct 13 (Reuters) - Medical Technology provider Steris Corp said it offered to buy British sterilisation services provider Synergy Health for about $1.9 billion in cash and stock to expand its footprint in Europe. Steris said it would set up a new company to undertake the acquisition. It of

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13 Oct 2014 08:18

Synergy Health Revenue Up Despite Big Currency Hit

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8 Sep 2014 10:44

UK WINNERS & LOSERS: Low Sugar Prices Leave A Sour Taste For AB Foods

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