This is a great opportunity [IMHO] to buy.
Intuitive Surgical buys Computer Motion
Friday March 7, 11:19 am ET
SUNNYVALE, Calif., March 7 (Reuters) - Intuitive Surgical Inc.(NasdaqNM:ISRG - News) said on Friday it will buy Computer Motion Inc. (NasdaqNM:RBOT - News) in a stock swap valued at about $63 million, combining their products for operative surgical robotics, telesurgery and operating room integration.
As proposed, each outstanding share of Computer Motion common stock would be converted into approximately 0.52 shares of Intuitive common stock.
Intuitive expects to issue about 15.39 million of its shares on a net fully diluted basis, for Computer Motion. As a result, Intuitive's shareholders would own 68 percent of the combined company while Computer Motion's shareholders would receive 32 percent.
The merger is subject to the approval of a majority of the shareholders of each company and is intended to be a tax-free reorganization.
Intuitive Surgical shares sank 31 cents, or 7.0 percent, to $4.11 while Computer Motion shares rose 30 cents, or 18.2 percent, to $1.95, both in mid-morning Nasdaq trading. |
