April 9, 2017 / 8:29 PM / 3 months ago

BRIEF-BioTelemetry launches tender offer to acquire Lifewatch AG

1 Min Read

April 9 (Reuters) - BioTelemetry Inc:

* BioTelemetry, Inc launches a tender offer to acquire Lifewatch AG

* Lifewatch AG shareholders will receive either CHF10.00 in cash and 0.1457 shares of BioTelemetry stock

* or Lifewatch shareholders will receive CHF8.00 in cash and 0.2185 shares of BioTelemetry stock, depending on their preference

* total deal value is approximately CHF260 million

* BioTelemetry will fund transaction with a combination of cash on hand, debt and equity

* transaction has been approved by both boards of directors

* expects combination to yield significant synergies to be realized over 12 to 18 month period, post-closing

* assuming transaction full synergies had been realized immediately, combined 2017 adjusted ebitda would be approximately $95 to $100 million

* transaction is expected to close in q3 of 2017 Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below