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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.
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(END) Dow Jones Newswires
August 12, 2019 09:02 ET (13:02 GMT)
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