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Civil Court of Milan Allows Sorin to Proceed with Cyberonics Merger.

M2 EQUITYBITES-August 20, 2015-Civil Court of Milan Allows Sorin to Proceed with Cyberonics Merger


20 August 2015 - Italian medical device maker Sorin S.p.A. (MIL: SRN) has received a favourable ruling over a creditor rights objection claim brought by the State's Attorney of Milan to enjoin the planned combination of Sorin and US-based medical device maker Cyberonics under a newly formed holding company, LivaNova PLC.

In February, the two companies agreed to merge in a stock combination worth around USD 2.7bn.

On August 20th, 2015, following a hearing on August 17, 2015 on the matter, the Civil Court of Milan issued a ruling rejecting the objection of the Italian State's Attorney, thus allowing the transaction to move forward.

Sorin is a medical device company and a leader in the treatment of cardiovascular diseases. Sorin develops, manufactures, and markets medical technologies for cardiac surgery and for the treatment of cardiac rhythm disorders.

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Publication:M2 EquityBites (EQB)
Date:Aug 20, 2015
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