Navigation Links
Kyphon Stockholders Approve Merger with Medtronic
Date:10/16/2007

SUNNYVALE, Calif., Oct. 16 /PRNewswire-FirstCall/ -- Kyphon Inc. (Nasdaq: KYPH) announced today that its stockholders approved the adoption of the merger agreement with Medtronic, Inc. (NYSE: MDT) at a special meeting of stockholders held today.

As previously announced, on July 26, 2007, Kyphon entered into a definitive merger agreement with Medtronic, pursuant to which Medtronic agreed to acquire all of the outstanding shares of Kyphon common stock for $71.00 per share in cash. Consummation of the transaction remains subject to customary closing conditions, including clearance from antitrust authorities in Portugal and Turkey. The initial review periods in both of these jurisdictions are scheduled to expire later this month unless the antitrust authorities extend the relevant periods. The parties intend to consummate the transaction reasonably promptly following the receipt of the required antitrust clearances in Portugal and Turkey and the satisfaction of the other customary closing conditions contained in the merger agreement, but in no event prior to November 1.

About Kyphon Inc.

Kyphon develops and markets medical devices designed to restore and preserve spinal function and diagnose the source of low back pain using minimally invasive technologies. The company's products are used in balloon kyphoplasty for the treatment of spinal compression fractures caused by osteoporosis or cancer, in the Functional Anaesthetic Discography(TM) (F.A.D.(TM)) procedure for diagnosing the source of low back pain, and in the Interspinous Process Decompression (IPD(R)) procedure for treating the symptoms of lumbar spinal stenosis. More information about the company and its products can be found at http://www.kyphon.com and its balloon kyphoplasty patient education Web site, http://www.spinalfracture.com.

Kyphon and IPD are registered trademarks, and Functional Anaesthetic Discography and F.A.D. are trademarks, of Kyphon Inc.

Forward-Looking Statements

This press release contains forward-looking statements, within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, about the completion of the merger. Forward-looking statements are based on management's current preliminary expectations and are subject to risks, uncertainties and assumptions, which may cause Kyphon's actual results to differ materially from the statements contained herein. Factors that could cause actual results to differ materially from management's current expectations include, without limitation, the potential inability to obtain the regulatory clearances required to complete the merger, or to do so in a timely manner, and the possibility that other conditions to completion of the merger may not be satisfied. Additional factors that may affect future results are contained in Kyphon's periodic filings with the SEC, which are available at the SEC's Web site http://www.sec.gov. Kyphon undertakes no obligation to release publicly any revisions to any forward-looking statements contained herein to reflect events or circumstances after the date hereof.

KYPHG


'/>"/>
SOURCE Kyphon Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related biology technology :

1. UW-Madison approves new research institute
2. FDA approves GEs heart-imaging technology
3. Senate approves bill to expand stem cell funding
4. FDA approves advanced digital mammography system
5. Building commission approves Institutes for Discovery
6. Seven good reasons to approve the Institutes for Discovery
7. Genzyme acquistion of Bone Care approved, significant impact forecast
8. UW Board of Regents approves $134 million medical research facility
9. FDA approves Bone Cares Hectorol for treatment of kidney disease
10. Technology and mergers: Getting the strategic applications
11. AT&T - BellSouth merger: Revestiture continues
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/14/2017)... ... July 13, 2017 , ... LGC Maine Standards ... received US FDA 510 (k) clearance for use on Siemens Sysmex® CS-2500 System ... VALIDATE® D-Dimer kit, prepared using the CLSI EP06-A “equal delta” sample preparation, offers ...
(Date:7/13/2017)... ... July 13, 2017 , ... Thousands of pilots from across the country will ... Championships (Nats). Pilots come to Muncie to compete in various categories of model flying ... that participate in world championships. , RC Pylon (July 14-21): One of the most ...
(Date:7/13/2017)... MEMPHIS, TN (PRWEB) , ... July 13, 2017 ... ... Contract Manufacturer of surgical instruments in Orthopedics, has announced today the completion of ... as majority shareholder to drive organic and external growth. The alliance fuels In’Tech ...
(Date:7/13/2017)... Frederick, Maryalnd (PRWEB) , ... July 13, 2017 ... ... Frederick Innovative Technology Center, Inc. (FITCI), has experienced robust growth in the past ... the public/private nonprofit has launched several Entrepreneurial Acceleration Programs and expanded its board ...
Breaking Biology Technology:
(Date:4/11/2017)... April 11, 2017 NXT-ID, Inc. (NASDAQ: ... company, announces the appointment of independent Directors Mr. Robin ... its Board of Directors, furthering the company,s corporate governance and ... Gino Pereira ... look forward to their guidance and benefiting from their considerable ...
(Date:4/4/2017)... April 4, 2017   EyeLock LLC , a ... the United States Patent and Trademark Office (USPTO) has ... the linking of an iris image with a face ... represents the company,s 45 th issued patent. ... very timely given the multi-modal biometric capabilities that have ...
(Date:3/29/2017)... , March 29, 2017  higi, the health IT ... North America , today announced a ... the acquisition of EveryMove. The new investment and acquisition ... of tools to transform population health activities through the ... data. higi collects and secures data today ...
Breaking Biology News(10 mins):