Thermo Cardiosystems
This article was originally published in The Gray Sheet
Executive Summary
Board of directors reaffirms its commitment to proceed with its planned merger with Thoratec Laboratories following a revised, unsolicited, rival bid from Abiomed Jan. 18. Since Abiomed launched the eleventh-hour counter-bid Jan. 4, the firm has increased the percentage of its $11.50-per-share offer that it is willing to pay in cash. The most recent proposal would allow some Thermo Cardiosytems shareholders to elect to receive all cash or all stock, although the aggregate amount of cash and stock distributed would remain the same as in the previous offer (1"The Gray Sheet" Jan. 15, 2001, p. 3). Thermo Cardiosystems shareholders will vote on the Thoratec merger Feb. 13. Separately, Thoratec announced it has filed an investigational device exemption application with FDA for trials of an implantable version of its ventricular assist device (IVAD) for patients awaiting a heart transplant or recovery from open heart surgery
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Thermo Cardiosystems
Abiomed withdraws offer to acquire firm after Thermo's board of directors reaffirms its commitment to proceed with its planned merger with Thoratec Labs (1"The Gray Sheet" Jan. 22, 2001, In Brief)
Thermo Cardiosystems
Abiomed withdraws offer to acquire firm after Thermo's board of directors reaffirms its commitment to proceed with its planned merger with Thoratec Labs (1"The Gray Sheet" Jan. 22, 2001, In Brief)
Abiomed Pumps Cash Into Eleventh-Hour Bid For Thermo CardioSystems
Abiomed may be able to leverage its strength in the capital markets - specifically, an enhanced cash position resulting from a $95 mil. secondary offering last March - to undercut a previously announced all-stock bid by Thoratec for ventricular assist device developer Thermo CardioSystems.