Intersect ENT Shares Rise on Medtronic Takeover Deal
06 Agosto 2021 - 9:24AM
Noticias Dow Jones
By Colin Kellaher
Shares of Intersect ENT Inc. rose more than 12% on Friday after
the drug-delivery company agreed to be acquired by
medical-technology giant Medtronic PLC.
Dublin-based Medtronic agreed to pay $28.25 a share in cash for
Intersect, a 15% premium to Thursday's closing price of $24.52, in
a deal with an implied enterprise value of around $1.1 billion.
Intersect, based in Menlo Park, Calif., makes devices used by
ear, nose and throat doctors to treat sinusitis. Medtronic said the
addition of Intersect's Propel and Sinuva sinus implants, which
open sinus passageways and deliver an anti-inflammatory steroid to
aid in healing, will bolster its offerings for patients with
chronic rhinosinusitis.
Intersect shares were recently up about 12.2% to $27.50.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
August 06, 2021 10:16 ET (14:16 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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