Thoratec (THOR) Prelim. Q2 Revenue Tops Expectations

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St. Jude Medical (STJ) to Acquire Thoratec (THOR) for $63.50/Share in Cash

July 22, 2015 7:00 AM EDT

(Updated - July 22, 2015 7:01 AM EDT)

St. Jude Medical (NYSE: STJ) and Thoratec (NASDAQ: THOR) announced that the Boards of Directors of both companies have unanimously approved a definitive agreement under which St. Jude Medical will acquire all of the outstanding shares of Thoratec for $63.50 per share in a cash transaction valued at approximately $3.4 billion, net of cash acquired. The all-cash transaction represents a premium of 40.1 percent compared to $45.34, Thoratec's volume-weighted average trading price for the 30 trading day period ending July 17, 2015, and a 35.4 percent premium to the closing price on... More