Conmed acquiring Viking Systems
Viking Systems is to be acquired by Conmed.
Conmed has confirmed that its subsidiary Arrow Merger Corporation has completed the acquisition of Viking Systems.
It has agreed to pay $0.27 (£0.16) per share, with all of the outstanding shares of common stock of Viking Systems included in the deal.
Viking is set to become a wholly-owned subsidiary of Conmed as a result of the deal and each share of Viking's outstanding common stock will be cancelled.
A Conmed statement added that it will be "converted into the right to receive the same consideration, without interest, received by holders who tendered in the tender offer".
Medical technology company Conmed has an emphasis on surgical devices and equipment for minimally invasive procedures and patient monitoring, while Viking is a leading worldwide developer, manufacturer and marketer of 3D and 2D visualisation solutions for complex minimally invasive surgery.
Conmed's headquarters are located in Utica, New York, with the firm employing more than 3,000 people all around the world.
Posted by David Gleck
Source: Conmed press release, September 24th