Orthofix Medical gains on unsolicited acquisition offer

Orthofix Medical

01/12/2022 18:04

** Shares of orthopedics medical device maker Orthofix
Medical Inc  OFIX.O  rise 10.6% to $19.9
    ** Co late on Wednesday in a regulatory filing disclosed
that it received an unsolicited acquisition offer from two PE
fund sponsors 
    ** The sponsors offered to acquire all of OFIX's outstanding
equity for $23 per share in cash, representing a ~27% premium to
co's last closing price of $17.99 
    ** OFIX in October had also announced merger agreement with
med-tech firm SeaSpine Holdings Corp  SPNE.O  
    ** OFIX expects the transaction with SPNE to close in Q1 of
2023
    ** Including session's gain, stock down ~36% YTD
 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))