Philips: completes offer, wins control of BioTelemetry
(CercleFinance.com) - Philips said it has succeeded in its offer to acquire BioTelemetry, completing its move for control of the US-based provider of remote cardiac diagnostics and monitoring tools.
The Dutch health technology company said results of its tender offer, which closed overnight, showed shareholders tendered a total of 27.2 million shares, bringing its stake in BioTelemetry to nearly 79%.
An additional 1.6 million shares had been tendered by notice of "guaranteed delivery," representing approximately 4.6% of BioTelemetry's shares, Philips said. It paid 72 dollars for each share.
Philips expects to complete the acquisition later today, meaning that BioTelemetry will become a wholly owned subsidiary and will no longer be traded on the Nasdaq.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The Dutch health technology company said results of its tender offer, which closed overnight, showed shareholders tendered a total of 27.2 million shares, bringing its stake in BioTelemetry to nearly 79%.
An additional 1.6 million shares had been tendered by notice of "guaranteed delivery," representing approximately 4.6% of BioTelemetry's shares, Philips said. It paid 72 dollars for each share.
Philips expects to complete the acquisition later today, meaning that BioTelemetry will become a wholly owned subsidiary and will no longer be traded on the Nasdaq.
Copyright (c) 2021 CercleFinance.com. All rights reserved.