Market Overview

Covidien To Buy Oridion Systems For $23/Share

Oridion Systems Ltd (OTC: ORDNF) agreed to be bought by Covidien PLC (NYSE: COV) for around $300 million in cash.

Covidien will pay $23 per Oridion share, representing a 72% premium to Oridion's closing price of $13.40 on Wednesday.

The deal is expected to close in the second quarter.

Oridion shares closed at $13.40 yesterday, while COV shares closed at $53.82 yesterday.

Posted-In: merger and acquisitionNews M&A

 

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