Cogentix Medical agrees to be sold for $239 million
Minnetonka medical device producer Cogentix Medical has agreed to be acquired with Canada-based Laborie Medical Technologies in a $239 million deal which would pay investors $three.85 per share. The deal value represents a positive reversal for a Nasdaq-listed Inc. which was valued at 71 cents per share amid a proxy contest only 2 years ago. The deal value for Cogentix represents a 28 percent premium over Cogentix's Rate 30-day closing value, the companies says in the deal announcement. Since then Cogentix has been making strategic moves to bolster development, including sales of a latest line of endourology products. Analysts had projected which Cogentix would post about $65 million in income in 2018.Here's the reason Cogentix Medical Inc. Stock Is Surging Today
as mentioned in What happenedShares of Cogentix Medical Inc. (NASDAQ: CGNT), a small-cap medical-device Inc., jumped this morning following a merger-licence announcement. So whatInvestor AB's Laborie Medical Technologies subsidiary develops & markets pelvic-health-linked devices, that makes Cogentix's flexible endoscopy products a perfect fit. In order to extend its offerings, Laborie offered a fairly standard 28% premium for all outstanding Cogentix Medical shares. further From The Motley FoolCory Renauer has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned.collected by :Lucy William
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