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Biotech / Medical : Arterial Vascular Engineering AVEI

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To: bullw who wrote ()11/30/1998 9:12:00 AM
From: Mighty_Mezz  Read Replies (1) of 410
 
Congratulations to AVEI holders. Looks like an open of 50ish.

Medtronic to buy Arterial Vascular for $3.7 billion

Reuters Story - November 30, 1998 07:44

MINNEAPOLIS, Nov 30 (Reuters) - Medtronic Inc. , maker of pacemakers and other medical devices, said on
Monday it would acquire Arterial Vascular Engineering Inc. for $3.7 billion, creating one of the world's leading
interventional cardiology companies.

It is the fifth major transaction for Medtronic since July and comes less than a month after it agreed to buy
Sofamor Danek Group Inc. , which specializes in spinal implants. That deal is also valued at $3.7 billion.

A Medtronic-Arterial Vascular merger agreement calls for Medtronic to exchange $54 of its stock for each share
of Arterial Vascular in a pooling-of-interests transaction.
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