Stryker achieves 95% ownership of Vexim: 5 takeaways

Written by Mackenzie Garrity | February 14, 2018 | Print  |

After crossing the 95 percent threshold in Vexim, Stryker plans to file a public buy-out offer followed by a squeeze-out for outstanding Vexim shares.

Here are five takeaways:

 

1. Stryker first acquired 92 percent of Vexim's share capital and 91 percent of the company's voting rights from November to December 2017. Later in December 2017, Stryker acquired an additional 300,016 shares, crossing the 95 percent threshold.

 

2. Currently Stryker holds more than 8.7 million shares and 95.14 percent of the company's voting rights.

 

3. In the coming weeks, Stryker intends to file a public-buy offer for all outstanding shares for $24.79 per share. This will be followed by a squeeze-out of all remaining non-tendered shares.

 

4. Stryker anticipates the squeeze-out to take place in the second quarter of 2018.

 

5. Vexim shares will remain suspended from trading until Stryker's filing offers.

 

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