Medical devices company Kyphon Inc said on Tuesday that its shareholders approved an acquisition by Medtronic Inc for $71.00 per share in valuing it at about $3.9 billion.
The deal is expected to close following the required antitrust clearances in Portugal and Turkey, Sunnyvale, California-based Kyphon said.
The announcement follows a merger agreement crafted between Kyphon and Medtronic.
Clearance
The companies on Monday said Spain, Austria and Cyprus gave their planned combination antitrust clearance.
Directors of both companies have unanimously cleared the deal, but the transaction still needs approval from Kyphon shareholders and two more antitrust regulators in Portugal and Turkey.
The companies intend to complete the transaction promptly after November 1.
October 17 2007
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