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Synergy Health rockets as US court thwarts FTC's attempt to block Steris deal

Fri, 25th Sep 2015 07:25

(ShareCast News) - Shares in Synergy Health rocketed on Friday after it announced that a federal court in Ohio has ruled against the Federal Trade Commission's request for a preliminary injunction to block Steris' $1.9bn acquisition of the group."We are pleased that the Court has agreed with our position and we will be working to close the transaction with Steris Corporation as quickly as possible," said chief executive officer Dr Richard Steeves."We believe that this is a strategically sensible deal that is beneficial to our customers, employees and our shareholders, creating new opportunities for growth with our combined strengths".In May, the Federal Trade Commission filed a lawsuit to stop the deal, saying it would both companies' customers by reducing competition between them based on innovative sterilisation techniques. "There is really very little conditionality left now - all that needs to be done to close this deal is the approvals of both sets of shareholders, who vote on Friday 2 October," said Olivetree Securities. "Expect to see Synergy trading as if this is realistically a done deal now," it added.At 0857 BST, Synergy shares were up 44% at 2,265p.
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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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