Printer Friendly

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

(C)2015 M2 COMMUNICATIONS http://www.m2.com

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.

((Comments on this story may be sent to info@m2.com))

COPYRIGHT 2015 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2015 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 EquityBites (EQB)
Date:Aug 20, 2015
Words:172
Previous Article:DealerSocket to Acquire Dealertrack's Inventory+ Business for USD 55m.
Next Article:Cyberonics Sets Special Meeting to Vote on Sorin Merger.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters