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Monday, October 13, 2014

BRIEF-Steris Corp to acquire UK's Synergy Health for $1.9 bln, (NYSE: STE)

Steris Corp : * Steris and Synergy are pleased to announce that they have reached agreement on terms of a recommended combination of Synergy with Steris* Synergy shareholders will be entitled to receive: for each Synergy share: 439 pence in cash and 0.4308 new Steris shares* A premium of 39 percent to closing price of �14.00 per Synergy share on latest practicable date* Value of �19.50 per synergy share values entire issued and to be issued share capital of synergy on a fully diluted basis at approximately �1.2 billion

Shares of STE fell by 1.95% or $-1.12/share to $56.38. In the past year, the shares have traded as low as $39.90 and as high as $58.15. On average, 291400 shares of STE exchange hands on a given day and today's volume is recorded at 648535.