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Biotech / Medical : Respironics

RESP 50.79

+0.2%

Jan 26 4:00 PM EST

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To: Thean who wrote (51)	11/21/1997 9:25:00 AM
From: Thean	Read Replies (2) of 103

Respironics rescinds stock repurchase Thursday November 20, 5:02 pm Eastern Time PITTSBURGH, Nov 20 (Reuters) - Respironics Inc said Thursday it terminated its stock repurchase program in connection with its pending merger with Healthdyne Technologies Inc (Nasdaq:HDTC - news). Respironics agreed to acquire Healthdyne in a stock swap valued at $370 million, including the assumption of $33 million in debt. The deal was announced November 11. Respironics also announced that shareholders elected current directors James Hardie, Joseph Lawyer and President and Chief Executive Dennis Meteny to new three-year terms, adopted a employee stock purchase plan and named Ernst & Young LLP as its independent accountants. Respironics develops respiratory medical products. --------------- The management sure think the deal will go through. May weaken RESP stock price short term.

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