Synovis to be acquired for $325M
Baxter International Inc. said it is buying Synovis Life Technologies Inc., a medical device company in St. Paul, for $325 million. The deal is expected to close early next year.
Baxter is a global maker of blood products and intravenous drugs based in Deerfield, Ill. Synovis makes surgical devices, including implantable biomaterial for soft tissue repair, its signature business.
Synovis shareholders will get $28 a share in the deal, Baxter said, a high 52 percent premium over Monday's closing price of $18.44. After adjusting for the net cash ...
