TSO3 to Be Acquired by Stryker Corp. in $51.7 Million Deal

Date : 08/12/2019 @ 2:17PM
Source : Dow Jones News
Stock : Stryker Corp (SYK)
Quote : 216.89  -1.29 (-0.59%) @ 4:06PM

TSO3 to Be Acquired by Stryker Corp. in $51.7 Million Deal

TSO3 (TSX:TOS)
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By Colin Kellaher

 

TSO3 Inc. (TOS.T) on Monday said it agreed to be acquired by Stryker Corp. (SYK) for 43 Canadian cents a share in cash.

The transaction represents a roughly 10.3% premium to Friday's closing price of C$0.39 for the Quebec City, Quebec, provider of sterilization technology for medical devices.

TSO3 said the acquisition by Stryker, a Kalamazoo, Mich., provider of medical technology products and services, represents a total enterprise value of about C$68.4 million (US$51.7 million), including debt.

TSO3 said it expects the transaction to close in the fourth quarter.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

August 12, 2019 09:02 ET (13:02 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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