Needham & Company Downgrades Vascular Solutions (VASC) to Hold Amid Takeover
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Vascular Solutions to be Acquired by Teleflex Incorporated
December 2, 2016 6:46 AM ESTMINNEAPOLIS, Dec. 02, 2016 (GLOBE NEWSWIRE) -- Vascular Solutions, Inc. (Nasdaq: VASC) today announced that it has entered into a definitive agreement to be acquired by Teleflex Incorporated (NYSE: TFX) for a purchase price of $56.00 per share in cash. The transaction implies an equity purchase price of $1.0 billion. Upon completion of the transaction, Vascular Solutions will become a wholly owned subsidiary of Teleflex.
The purchase price represents a 16% premium over Vascular Solutions average closing price during the 90 trading days ended December 1, 2016. In addition, the purchase price is 38.4x the... More
