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In Brief: Sterile Concepts

This article was originally published in The Gray Sheet

Executive Summary

Sterile Concepts: Accepts Maxxim Medical's most recent offer to merge the two companies through a deal valued at approximately $143.5 mil. Under terms of the agreement, Maxxim will purchase all of the roughly 5.5 mil. outstanding shares of Sterile stock for $20 per share and assume about $33 mil. in long-term debt. Finalization of the agreement is contingent upon acceptance by Sterile shareholders; Maxxim plans to begin a tender offer "on or before June 14," the firm says in a June 10 release. Sterile had rejected three previous offers from Maxxim. The first offer was valued at $118 mil.; the second and third offers were valued at $128 mil. and $135 mil. respectively...
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