DEPUY TO FINANCE ACQUISITIONS WITH PROCEEDS FROM $250 MIL. INITIAL PUBLIC OFFERING; SPIN-OFF FROM CORANGE LTD. OUTLINED IN AUG. 1 SEC FILING
This article was originally published in The Gray Sheet
Executive Summary
Orthopedic devices and supplies producer DePuy plans to use proceeds from a $250 mil. initial public offering to expand its business through acquisitions, according to a registration statement filed with the Securities and Exchange Commission Aug. 1. The offering, to be underwritten by Morgan Stanley, Bear Stearns, Cowen & Co. and Furman Selz, would spin off at least a portion of the firm's ownership from its current parent company, Corange Limited.