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Osiris Acquisition By Smith & Nephew Plc Closes.

COLUMBIA, Md., April 17, 2019 -- Osiris Therapeutics, Inc. (NASDAQ: OSIR), a regenerative medicine company focused on developing and marketing products for wound care, orthopedics, and sports medicine, announced that it has completed the previously announced sale of Osiris to Smith & Nephew plc through a merger of the company into an indirect wholly-owned subsidiary of Smith & Nephew without a vote of the Osiris stockholders in accordance with Section 3-106.1 of the Maryland General Corporation Law.

A majority of the outstanding shares of Osiris common stock were tendered in the tender offer.

In the second-step merger, each share of Osiris common stock that was not purchased by Smith & Nephew in the tender offer (other than shares directly owned by the Subsidiary or by any subsidiary of Osiris) has been converted into the right to receive $19.00 per share in cash, without interest, subject to any required withholding of taxes, which is the same cash price per share as was paid in the tender offer.

As a result of the merger, Osiris became an indirect wholly-owned subsidiary of Smith & Nephew and Osiris' shares will cease to be traded on the NASDAQ Global Select Market.

Osiris Therapeutics is developing regenerative medicine products in orthopedics, sports medicine and wound care, including the Grafix product line, Stravix, BI04 and Cartiform.


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Title Annotation:Mergers & Acquisitions
Publication:Stem Cell Lab World
Date:Apr 29, 2019
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