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Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (849)	11/11/2005 5:25:34 PM
From: richardred	Read Replies (1) \| Respond to of 7254

St. Jude Clears Hurdle to Buy ANSI Friday November 11, 1:17 pm ET St. Jude Medical Clears Hurdle to Close Planned Acquisition of Advanced Neuromodulation Systems ST. PAUL, Minn. (AP) -- Medical device maker St. Jude Medical Inc. said Friday that it cleared the final regulatory hurdle to close its planned acquisition of Advanced Neuromodulation Systems Inc. for about $1.3 billion. The company said it received clearance for the acquisition from the German Federal Cartel Office. Recently, the waiting period required by U.S. antitrust laws for the deal expired. A tender offer of $61.25 cash per Advanced Neuromodulation share will come to a close on Tuesday. The companies expect the deal to close by the end of the year. The acquisition represents a major broadening of St. Jude's product line, made up of heart-related devices such as pacemakers, heart valves, and implantable defibrillators -- devices that shock the heart out of an abnormal rhythm back into a normal one. ANSI makes implantable electrical stimulation devices that treat chronic pain or other disabling nervous system disorders. In afternoon trading, St. Jude shares fell 12 cents to $50.67 on the New York Stock Exchange and shares of Advanced Neuromodulation rose 9 cents to $61.19 on the Nasdaq. biz.yahoo.com