In Brief: St. Jude/Cyberonics
This article was originally published in The Gray Sheet
Executive Summary
St. Jude/Cyberonics: St. Jude Medical's proposed $84 mil. acquisition of Cyberonics is void after St. Jude allows its option to purchase all outstanding Cyberonics shares to expire Oct. 18. St. Jude, which made an initial $12 mil. investment in Cyberonics under terms negotiated in April ("The Gray Sheet" April 15, I&W-3), cites "strategic reasons" for its decision. Cyberonics President and CEO Robert Cummins says in an Oct. 17 release that St. Jude's "sizable investment" in April allowed the company "to continue as an independent company without immediate financing concerns." Cyberonics plans to submit an amendment to a pending premarket approval application for the firm's NCP (NeuroCybernetic Prosthesis) neurological stimulation device in the first quarter of 1997. The company also anticipates an expansion in international sales and marketing activities for the NCP system...
You may also be interested in...
Cyberonics Could Be Acquisition Target With Permanent CEO Slot Left Open
Cyberonics' recent ouster of CEO Robert "Skip" Cummins could make the neurostimulation device firm an acquisition candidate for other implantable pulse generator manufacturers such as Medtronic or St. Jude Medical - both of which have made unsuccessful merger offers in the past
Cyberonics Could Be Acquisition Target With Permanent CEO Slot Left Open
Cyberonics' recent ouster of CEO Robert "Skip" Cummins could make the neurostimulation device firm an acquisition candidate for other implantable pulse generator manufacturers such as Medtronic or St. Jude Medical - both of which have made unsuccessful merger offers in the past
Medtronic Holding Pat On $480 Mil. Acquisition Offer Spurned By Cyberonics
Medtronic's stalled $480 mil. acquisition bid for Cyberonics may be the first test for President and Chief Operating Officer Arthur Collins as he prepares to assume the top executive post at Medtronic next spring.