Summary
Cardinal Health Inc. (CAH) filed an 8-K on June 28, 2007, reporting on the successful completion of its acquisition of VIASYS Healthcare Inc. The tender offer for VIASYS shares, initiated on May 11, 2007, closed with approximately 88% of the outstanding shares tendered and accepted. Following this, Cardinal Health exercised its option to acquire additional shares, pushing its ownership to over 90%, thereby enabling a short-form merger to acquire the remaining VIASYS shares. The acquisition was completed on June 28, 2007, with VIASYS now operating as a wholly owned subsidiary of Cardinal Health. All remaining VIASYS shareholders who did not tender their shares will receive $42.75 per share in cash, as stipulated in the merger agreement. This move signifies a significant expansion for Cardinal Health, integrating VIASYS's operations into its own.
Key Highlights
- 1Cardinal Health, Inc. successfully completed the acquisition of VIASYS Healthcare Inc. on June 28, 2007.
- 2A tender offer was made for all outstanding VIASYS common stock at $42.75 per share.
- 3Approximately 88% of VIASYS's outstanding shares were tendered in the initial and subsequent offering periods.
- 4Cardinal Health exercised an option to acquire additional VIASYS shares, bringing its total ownership to over 90%.
- 5A short-form merger was executed under Delaware law to acquire the remaining VIASYS shares without further shareholder action.
- 6VIASYS Healthcare Inc. is now a wholly owned subsidiary of Cardinal Health.
- 7All remaining VIASYS shareholders will receive $42.75 per share in cash for their shares.