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Medtronic/VidaMed

This article was originally published in The Gray Sheet

Executive Summary

Pending VidaMed shareholder complaint that Medtronic's $326 mil., $7.91-per-share cash acquisition deal is inadequate is without merit, VidaMed says (1"The Gray Sheet," Dec. 10, 2001, p. 18). Filed Dec. 7 in the Delaware Court of Chancery, the complaint alleges that Medtronic was able to use its minority stake in the company to compel VidaMed's board to accept a less than fair acquisition price. The $7.91 per share deal represents a 40% premium to its pre-announcement close...

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