Steris gains on $2.1 bln Xodus Medical buy
12/10/2026 15:58
BUZZ-Steris gains on $2.1 bln Xodus Medical buy ** Steris PLC STE.N shares up more than 2% at $219.32
** The medical equipment maker says it will buy privately held surgical products maker Xodus Medical for $2.1 bln
** Co says acquisition will deepen its presence in hospitals and laboratories, where demand for its sterilization products and consumables remains strong
** Co expects about $300 million in cash tax benefits, bringing the net purchase price to ~$1.8 billion.
** Co plans to fund the deal primarily with debt; expects it to close by December 31
** 7 of 10 brokerages rate the stock "buy" or above, 3 "hold"; median PT - $270 - data compiled by LSEG
** Including session's moves, stock down 13.5% YTD
(Reporting by Miraanta Lowrance in Bengaluru)