Summary
This 8-K filing from Stryker Corporation (SYK) on June 28, 2011, announces the successful completion of its tender offer to acquire Orthovita, Inc. through its subsidiary, Owl Acquisition Corporation. The tender offer saw approximately 87.6% of Orthovita's outstanding common shares validly tendered and not withdrawn, demonstrating significant shareholder support for the acquisition. Following the successful tender offer, Stryker completed the acquisition of Orthovita via a short-form merger, effective as of June 27, 2011. This transaction makes Orthovita an indirect wholly owned subsidiary of Stryker, consolidating its market position in the medical device sector. Investors can look to the attached press releases for further details on this strategic move.
Key Highlights
- 1Stryker Corporation has successfully completed its tender offer for Orthovita, Inc.
- 2Approximately 87.6% of Orthovita's outstanding common shares were tendered and not withdrawn.
- 3The acquisition was finalized through a short-form merger, making Orthovita an indirect wholly owned subsidiary of Stryker.
- 4The merger became effective on June 27, 2011.
- 5This 8-K filing includes press releases dated June 27, 2011, and June 28, 2011, detailing the transaction.
- 6Curt R. Hartman, Vice President and Chief Financial Officer, signed the report.