Medical device maker Stryker to buy Wright Medical for USD 4 Billion
Medical device maker Stryker Corp said on Monday it would buy smaller rival Wright Medical Group for about $4 billion in cash.
The deal for $30.75 per share of Wright represents a premium of 39.7% to the company’s close on Friday and is expected to close in the second half of 2020.
Including debt, the deal values Wright at about $5.4 billion.
(Reporting by Tamara Mathias in Bengaluru; Editing by Shinjini Ganguli)