Navigation Links
Kyphon Stockholders Approve Merger with Medtronic
Date:10/16/2007

SUNNYVALE, Calif., Oct. 16 /PRNewswire-FirstCall/ -- Kyphon Inc. (Nasdaq: KYPH) announced today that its stockholders approved the adoption of the merger agreement with Medtronic, Inc. (NYSE: MDT) at a special meeting of stockholders held today.

As previously announced, on July 26, 2007, Kyphon entered into a definitive merger agreement with Medtronic, pursuant to which Medtronic agreed to acquire all of the outstanding shares of Kyphon common stock for $71.00 per share in cash. Consummation of the transaction remains subject to customary closing conditions, including clearance from antitrust authorities in Portugal and Turkey. The initial review periods in both of these jurisdictions are scheduled to expire later this month unless the antitrust authorities extend the relevant periods. The parties intend to consummate the transaction reasonably promptly following the receipt of the required antitrust clearances in Portugal and Turkey and the satisfaction of the other customary closing conditions contained in the merger agreement, but in no event prior to November 1.

About Kyphon Inc.

Kyphon develops and markets medical devices designed to restore and preserve spinal function and diagnose the source of low back pain using minimally invasive technologies. The company's products are used in balloon kyphoplasty for the treatment of spinal compression fractures caused by osteoporosis or cancer, in the Functional Anaesthetic Discography(TM) (F.A.D.(TM)) procedure for diagnosing the source of low back pain, and in the Interspinous Process Decompression (IPD(R)) procedure for treating the symptoms of lumbar spinal stenosis. More information about the company and its products can be found at http://www.kyphon.com and its balloon kyphoplasty patient education Web site, http://www.spinalfracture.com.

Kyphon and IPD are registered trademarks, and Functional Anaesthetic Discography and F.A.D. are trademarks, of Kyphon Inc.

Forward-Looking Statements

This press release contains forward-looking statements, within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, about the completion of the merger. Forward-looking statements are based on management's current preliminary expectations and are subject to risks, uncertainties and assumptions, which may cause Kyphon's actual results to differ materially from the statements contained herein. Factors that could cause actual results to differ materially from management's current expectations include, without limitation, the potential inability to obtain the regulatory clearances required to complete the merger, or to do so in a timely manner, and the possibility that other conditions to completion of the merger may not be satisfied. Additional factors that may affect future results are contained in Kyphon's periodic filings with the SEC, which are available at the SEC's Web site http://www.sec.gov. Kyphon undertakes no obligation to release publicly any revisions to any forward-looking statements contained herein to reflect events or circumstances after the date hereof.

KYPHG


'/>"/>
SOURCE Kyphon Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related biology technology :

1. UW-Madison approves new research institute
2. FDA approves GEs heart-imaging technology
3. Senate approves bill to expand stem cell funding
4. FDA approves advanced digital mammography system
5. Building commission approves Institutes for Discovery
6. Seven good reasons to approve the Institutes for Discovery
7. Genzyme acquistion of Bone Care approved, significant impact forecast
8. UW Board of Regents approves $134 million medical research facility
9. FDA approves Bone Cares Hectorol for treatment of kidney disease
10. Technology and mergers: Getting the strategic applications
11. AT&T - BellSouth merger: Revestiture continues
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/24/2017)... (NASDAQ: VWR), the leading global independent provider of product and ... financial results for the fourth quarter and full year ended ... 4Q16 record quarterly net sales of $1.13 billion, up 1.6% ... 4Q16 EMEA-APAC segment net sales increased 0.4%, ... sales increased 2.5%, or down 0.9% on an organic basis, ...
(Date:2/23/2017)... Wisconsin (PRWEB) , ... February 23, 2017 , ... ... Drug Discovery Services portfolio to include an array of biochemical analyses ... with reliable data to drive their hit-to-lead and SAR programs, including inhibitor potency ...
(Date:2/23/2017)... -- Seattle,s upscale Capitol Hill neighborhood, with its swanky shops, parks and ... lice treatment salon to set up shop. But there,s ... French bistro on E Madison Ave, and CEO Maria ... lice clinic, we pride ourselves on being a destination for ... the stigma associated with lice. Everyone can get lice – ...
(Date:2/23/2017)... ... February 23, 2017 , ... David Nolte, PhD accepted Purdue ... Purdue Research Park of West Lafayette, Indiana. , The top commercialization ... to, and success with, commercializing discoveries from Purdue research. “This award is truly ...
Breaking Biology Technology:
(Date:2/6/2017)... 6, 2017 According to Acuity Market ... border authorities to continue to embrace biometric and ... 2143 Automated Border Control (ABC) eGates and 1436 ... more than 163 ports of entry across the ... achieving a combined CAGR of 37%. APC Kiosks ...
(Date:2/2/2017)... 2017  Central to its deep commitment to ... The Japan Prize Foundation today announced the laureates ... the envelope in their respective fields of Life ... are being recognized with the 2017 Japan Prize ... contribute to the advancement of science and technology, ...
(Date:1/26/2017)... -- Acuity Market Intelligence today released the 2017 "Ten ... characterizes 2017 as a "breakout" year for biometrics ... new understanding of the potential benefits these technologies ... are often perceived as threats to privacy and ... Acuity Market intelligence. "However, taken together these technologies ...
Breaking Biology News(10 mins):