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Strategies & Market Trends : Speculating in Takeover Targets
CTG 10.31-0.1%Sep 20 3:59 PM EDT

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To: richardred who wrote (4346)2/16/2017 11:21:17 AM
From: richardred  Read Replies (1) of 6781
Adding to some ANIK today. Although Mr. market was most likely looking for more. I didn't think earnings were that bad to warrant today's slide. Interga still in the buying mood. This before the close of MY DSCI.

Integra LifeSciences To Buy J & J Codman Neurosurgery Business For $1.045 Bln
( - Integra LifeSciences Holdings Corp. ( IART ) announced it has made a binding offer to acquire the Johnson & Johnson Codman Neurosurgery business for a price of $1.045 billion in cash. Integra expects the transaction to be accretive to adjusted EPS by at least $0.22 in the first full year after closing and increasing thereafter, and to GAAP EPS by the end of the third year.

Integra LifeSciences expects the acquisition to also accelerate the path to achieving the company's targets of $2 billion in revenue and 30% adjusted EBITDA margin. Integra expects the Codman Neurosurgery revenue to experience some initial disruption in the first year of the combination, and to then grow 3% to 6% longer term.

Codman Neurosurgery is a part of Depuy Synthes Companies of Johnson & Johnson. It offers a portfolio of devices focused on advanced hydrocephalus, neuro-critical care and operative neurosurgery. The acquired products generated approximately $370 million in revenue during 2016 with an EBITDA margin of about 31%.

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