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In Brief: Circon/U.S. Surgical

This article was originally published in The Gray Sheet

Executive Summary

Circon/U.S. Surgical: Circon board reappoints President and CEO Richard Auhll to its board of directors. Auhll, who was also reappointed chairman, was ousted by an Oct. 6 shareholder vote which installed two USSC-nominated directors ("The Gray Sheet" Oct. 20, In Brief). USSC's hostile $16.50-per-share bid to acquire Circon, which was rejected in August and previously slated to expire Nov. 25, has been extended to Jan. 15, 1998. Auhll replaces Rudolf Schulte, board member since 1977, who resigned for "health and other personal reasons," Circon states. USSC has filed suit in Delaware chancery court seeking to nullify Auhll's reinstatement ("The Gray Sheet" Sept. 22, In Brief)...

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