St. Jude/Ventritex revised merger deal valued at $365 mil., 28% lower than October 1996 pact.
This article was originally published in The Gray Sheet
Executive Summary
ST. JUDE/VENTRITEX $365 MIL. REVISED MERGER DEAL values Ventritex 28% lower than an original October 1996 agreement which was worth $505 mil. St. Jude Medical announced March 31 that it amended the deal to reflect the negative impact on the Ventritex business of component failures in two models of its Cadence implantable cardioverter defibrillators. The merger is expected to close in the second quarter, pending Ventritex shareholder approval.
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