Noticias

Noticias

  • Título: Endologix, TriVascular clear U.S. regulatory hurdle in $211m merger
  • Fecha: 18-11-2015

  • Endologix (NSDQ:ELGX) and TriVascular Technologies (NSDQ:TRIV) yesterday said that the waiting period set by U.S. anti-trust laws for their $211 million merger ended early, setting the stage for the deal to close during the 1st quarter next year.

    The companies said the U.S. Federal Trade Commission and Justice Dept. granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, which had been slated to expire Dec. 9.

    The cash-and-stock deal, announced late last month, would unite 2 of the stent graft market’s smaller players. Both companies makes devices for treating abdominal aortic aneurysms; Irvine, Calif.-based Endologix makes 2 lines of stent grants, the Nellix and AFX devices, while Santa Rosa, Calif.-based TriVascular makes the Ovation stent graft.

    The deal, which values TriVascular at $9.10 per share, calls for TRIV shareholders to receive a to-be-determined combination of ELGX shares and cash equal to 19.999% of Endologix’s outstanding shares. Once it closes, Endologix shareholders would own 84% of the new company, with TriVascular stockowners holding the remaining 16%, the companies said.

    The new company is slated to operate under the Endologix banner, with TriVascular as a wholly-owned subsidairy. Endologix chairman & CEO John McDermott is expected to keep that role, with TriVascular president & CEO Christopher Chavez joining the board.



  • Fuente: endovascular.es