Summary
This 8-K filing from Stryker Corporation (SYK) announces the definitive completion of its acquisition of MAKO Surgical Corp. on December 17, 2013. The transaction, valued at approximately $1.68 billion, saw MAKO become a wholly-owned subsidiary of Stryker. All outstanding MAKO common stock not held by dissenting shareholders or related parties was converted into $30 in cash per share. MAKO stock options and restricted stock awards also became fully vested and were converted into cash payments.
Key Highlights
- 1Stryker has successfully completed the acquisition of MAKO Surgical Corp. on December 17, 2013.
- 2The total aggregate consideration for the acquisition was approximately $1.68 billion.
- 3MAKO Surgical Corp. has become a wholly-owned subsidiary of Stryker.
- 4MAKO shareholders received $30 in cash per share for their common stock.
- 5All MAKO stock options and restricted stock awards vested upon completion and were converted into cash payments.
- 6The acquisition was executed through a merger, with MAKO continuing as the surviving corporation.
- 7A press release dated December 17, 2013, was issued to announce the completion of the merger.
Frequently Asked Questions
The primary purpose of this 8-K filing was to formally announce and provide details regarding the completion of Stryker's acquisition of MAKO Surgical Corp. on December 17, 2013.
Stryker paid a total aggregate consideration of approximately $1.68 billion to acquire MAKO Surgical Corp.
MAKO shareholders received $30 in cash per share for their outstanding common stock, excluding certain dissenting shares and shares held by related parties. MAKO stock options and restricted stock awards were also cashed out after vesting.
MAKO Surgical Corp. has become a wholly-owned subsidiary of Stryker Corporation following the completion of the merger.