SYK Stryker Corp

By Colin Kellaher

Shares of Wright Medical Group NV (WMGI) surged nearly 30% on Monday after the medical-devices maker agreed to be acquired by Stryker Corp. (SYK) for about $4 billion in cash.

Stryker is paying $30.75 a share in cash for Wright, a roughly 40% premium to Friday's closing price of $22.01.

Bloomberg, citing people familiar with the matter, late Friday reported that Amsterdam-based Wright was working with financial advisers and exploring a sale.

Wright Medical shares were recently up 29.2%, to $28.45. Shares of Stryker slipped 3.5%, to $205.26.

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

(END) Dow Jones Newswires

November 04, 2019 10:02 ET (15:02 GMT)

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