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Strategies & Market Trends : Speculating in Takeover Targets

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From: The Ox	2/14/2017 8:32:21 AM
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Hologic takes out Cynosure for $1.65B ($66/share) Hologic (NASDAQ: HOLX) inks an agreement to acquire medical laser outfit Cynosure (NASDAQ: CYNO) for $66/share in cash ($1.65B).Hologic chief Steve McMillan says, "Acquiring Cynosure will accelerate our transformation into a higher-growth company by leveraging our core women's health expertise and OB/GYN channel leadership into an adjacent, cash-pay segment that is expanding at a low double-digit rate. We had identified medical aesthetics as an attractive and complementary growth opportunity through our strategic planning process, and are pleased to have agreed to acquire Cynosure, the best-in-class company in the space. Together, we can strengthen our shared focus on innovation, market-leading products with demonstrated clinical benefits, and strong customer relationships. "Hologic says the deal will be immediately accretive on a non-GAAP basis, adding $0.03 to 0.05 per share this year and $0.13 - 0.15 in 2018.The transaction should close no later than April.CYNO closed yesterday at $51.50. HOLX is down 2% premarket on light volume.

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