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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)

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