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In Brief: Maxxim Medical/Sterile Concepts

This article was originally published in The Gray Sheet

Executive Summary

Maxxim Medical/Sterile Concepts: Maxxim ups bid for Sterile Concepts to approximately $135 mil. "in cash or newly issued shares of Maxxim common stock or a combination of the two," the firm states in a March 25 release. Under the terms of the revised proposal, Maxxim would pay $19 per share for all outstanding shares of Sterile Concepts and would assume about $29 mil. in Sterile Concepts debt. The offer expires on April 1. Sterile Concepts has retained Wheat First Butcher Singer to help it "explore its strategic alternatives, including a possible combination" with Maxxim. Sterile Concepts has rejected two previous offers from Maxxim. The first offer was valued at $118 mil.; the second offer, valued at $128 mil., was rejected March 14...
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