Shares of Cynosure (CYNO) have taken a
beating. The developer and marketer of aesthetic treatment systems which are
used to perform non-invasive procedures announced that it has agreed to acquire
Palomar Medical Technologies (PMTI). Shares ended the
day with losses of 5%, while shares of Palomar rose more than 4%.
The Deal
Cynosure announced that it has agreed to acquire Palomar Medical Technologies in an attempt to create a world-leading aesthetic laser and light-based company. Cynosure will acquire the company for a total of $284 million in cash and stock.
Shareholders in Palomar stand to receive $6.825 worth of Cynosure's common stock and a similar amount in cash. The deal values the company at approximately $294 million. The deal represents an 8% premium compared to Friday's closing price.
Read the entire article on Seekingalpha by clicking the following link
The Deal
Cynosure announced that it has agreed to acquire Palomar Medical Technologies in an attempt to create a world-leading aesthetic laser and light-based company. Cynosure will acquire the company for a total of $284 million in cash and stock.
Shareholders in Palomar stand to receive $6.825 worth of Cynosure's common stock and a similar amount in cash. The deal values the company at approximately $294 million. The deal represents an 8% premium compared to Friday's closing price.
Read the entire article on Seekingalpha by clicking the following link
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