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Biotech / Medical : Innerdyne -- Why are they still losing money? -- Ignore unavailable to you. Want to Upgrade?

To: mark collins who wrote (56)	10/4/2000 12:31:06 PM
From: Charles W. Breaux, Jr.	Respond to of 68

Here's the news, a few days after the price move: PEMBROKE, Bermuda and SUNNYVALE, Calif., Oct. 4 /PRNewswire/ -- Tyco International Ltd. (NYSE: TYC, news, msgs; LSE: TYI; BSX: TYC), a diversified manufacturing and service company, and InnerDyne, Inc. (Nasdaq: IDYN, news, msgs), a medical manufacturer and distributor of patented radial dilating access devices used in minimally invasive surgical procedures, today announced that they have entered into a definitive agreement pursuant to which Tyco will acquire InnerDyne. The transaction will involve an exchange offer for InnerDyne shares in which InnerDyne stockholders will receive a fraction of a Tyco share valued at $7.50 per share for each share of InnerDyne. The transaction is valued at approximately $180 million. quicken.com As a surgeon who does laparoscopic cases, I've really liked the InnerDyne technology which is why I have been a long-term investor. I'll have to evaluate Tyco & see if I want to stay in. Good investing! Chuck