US Surgical aims for Circon
This article was originally published in Clinica
US Surgical's unsolicited takeover bid for Circon on August 2nd prompted a rapid rise in the latter's share price. After the weekend, Circon shares were trading at over $19 compared with $12 prior to US Surgical's cash tender offer. The bid was for the purchase of all Circon's outstanding shares at $18 per share, valuing the deal at around $230 million.