Covidien To Buy Oridion Systems For $23/Share

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Oridion Systems Ltd
ORDNF
agreed to be bought by Covidien PLC
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: NewsM&Amerger and acquisition
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