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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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4 Feb 2015 09:03

London open: Stocks retreat from five-month high, Hargreaves Lansdown falls

London's blue-chip stocks pulled back from a five-month high on Wednesday morning as investors watched developments in Greece and service-sector data from across the globe. The FTSE 100 was down 0.2% at 6,857 early on, as strong gains from Sky and a host of pharmaceutical stocks were outweighed by f

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4 Feb 2015 08:20

UK MORNING BRIEFING: Sky And Hargreaves Lansdown Bookend FTSE 100

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4 Feb 2015 07:42

Synergy Health builds momentum in third quarter

Healthcare outsourcer Synergy Health said it was on track to hit full-year forecasts after growth momentum picked up strongly in the third quarter. The provider of sterilisation services, which is currently undergoing a takeover by US rival Steris Corp, said revenues increased by 11.5% to £105.6m in

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4 Feb 2015 07:26

Synergy Health Trading In Line As Nine-Month Revenue Rises

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12 Jan 2015 11:35

UK WINNERS & LOSERS: Afren Plummets After Barda Rash Downgrade

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12 Jan 2015 08:14

UK MORNING BRIEFING: Shire Sets Out Ambitions With USD5.2 Billion Buy

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12 Jan 2015 07:51

Synergy Health Says US FTC Has Made Further Requests On STERIS Deal

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5 Nov 2014 10:42

UK BROKER RATINGS: TT Electronics Downgraded By Three Brokers

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4 Nov 2014 17:15

Synergy Health Half Year Profit Up, Opts Not To Pay Interim Dividend

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15 Oct 2014 15:53

FTSE 250 movers: CSR leads on buy-out deal

CSR shares leapt after fellow chip designer Qualcomm announced it was buying out the company for 900p a share or £1.56bn - a 36% premium to Tuesday's closing price. Infrastructure group Balfour Beatty saw its share price jump after appointing Qinetiq's chief executive officer Leo Quinn to take up th

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14 Oct 2014 09:17

Tuesday broker round-up UPDATE

Anglo Pacific: FinnCap upgrades to buy with a target price of 158p. Peel Hunt shifts target price from 196p to 198p retaining its buy recommendation. Ashmore: Canaccord Genuity upgrades from sell to hold with a target price of 300p. Numis cuts target price from 369p to 355p retaining an add rating.

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13 Oct 2014 17:00

London close: Mining stocks help lift FTSE to positive finish

Coming off the morning's declines, London-listed stocks ended Monday's session on a relatively upbeat note, thanks to a strong performance by the mining sector on what was a generally quiet day for markets. The FTSE 100 finished near its best levels of the session, closing 26.27 points higher at 6,3

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13 Oct 2014 16:10

MARKET COMMENT: FTSE 100 Ends Higher After Hitting 15-Month Low

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13 Oct 2014 15:27

FTSE 250 movers: Synergy Health soars on Steris Corp buy-out

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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