#1 – The big picture of the deal
Both boards have approved the merger and closing is expected in 2H 2015.
New company will be based in Holland under the corporate name Wright Medical Group NV.
This is a 100% stock transaction (no cash) with a combined equity value of ~$3.3B
Wright shareholders will own 52%, and Tornier shareholders will own 48%
At closing, Wright shareholders will receive 1.0309 Tornier common shares for each share of Wright stock they own, representing an approximate value of $24.79 per share
Tornier shareholders will get a 28% premium based on Tornier’s closing share price
on October 24.
Law firms are trying to stir up a lawsuit that Wright has not fulfilled its fiduciary duty to shareholders by merging with Tornier
#2 – Overview of Wright
Wright is strongest in Foot & Ankle and Biologics
Wright 2013 revenue is $242M
Wright has 1,000 employees
Wright Market Cap is ~$1.58B
Wright has operations in Memphis, TN
NASDAQ: WMGI
#3 – Overview of Tornier
Tornier is strongest in Shoulder and Upper Extremity
Tornier 2013 revenue is $311M
Tornier has 1,076 employees
Tornier Market Cap is ~$1.35B
Tornier has operations in Minneapolis MN, Warsaw IN, Akron OH, Irelan...
