June 28, 2017 / 5:38 AM / a year ago

BRIEF-Philips to acquire Spectranetics Corp for $38.50/share

June 28 (Reuters) - Spectranetics Corp :

* Philips to acquire the Spectranetics Corporation to accelerate expansion in image-guided therapy devices to treat cardiac and peripheral vascular disease

* Spectranetics-Philips will commence a tender offer to acquire all outstanding shares of co for USD 38.50 per share, to be paid in cash upon completion

* Acquisition expected to be revenue growth, adjusted ebita margin and adjusted EPS accretive for Philips by 2018

* Says board of directors of Spectranetics has approved transaction and recommends offer to its shareholders

* Implied enterprise value is approximately EUR 1.9 billion, inclusive of Spectranetics’ cash and debt

* Board of directors of spectranetics has approved transaction and recommends offer to its shareholders

* Spectranetics’ standalone revenue growth is expected to be double-digit and adjusted EBITA to be positive by 2018

* Philips intends to finance acquisition through a combination of cash on hand and issuance of debt Source text for Eikon: Further company coverage:

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