Mergers & Acquisitions

Device firm withdraws $22 per share Cyberonics proposal

Published in Medical Devices and Surgical Technology Week, November 7th, 2004

Advanced Neuromodulation Systems, Inc., (ANS, ANSI) announced that it has withdrawn its proposal to discuss a combination with Cyberonics, Inc., (CYBX) in which ANS was prepared to offer $22.00 per share for the Cyberonics stock that it does not already own.

ANS acquired 3.5 million shares, or approximately 14.7%, of Cyberonics outstanding stock in mid-August.

"We are disappointed that the Cyberonics Board of Directors has chosen to reject our invitation to discuss a business combination. For the many reasons we carefully outlined in our September 14 letter, we continue to think that the business case for a combination is compelling," said Chris...

Want to see the full article?

Purchase this article for only $3.00

We're a pay-per-view site for premium content. If you'd like to purchase this article, it's only $3.00.

Welcome to NewsRx!

Learn more about a six-week, no-risk free trial of Medical Devices and Surgical Technology Week

Source: Medical Devices and Surgical Technology Week (2004-11-07)

More Articles from Medical Devices and Surgical Technology Week

DNA Research
Novel techniques improve control of macromolecular reactions
Drug Delivery
Thrombin peptide-loaded microspheres improve bone healing in rabbits
Genetic Disorders
Novel assay improves diagnosis of myotonic dystrophy type 2
Genomics and Genetics
Java-based application facilitates microarray experiment tracking
Spinal Cord Injury
Pneumatic impact device enables accurate rat model of SCI
Abdominal Aortic Aneurysm
FDA approves medical device to treat AAA
More from this issue of Medical Devices and Surgical Technology Week

NewsRx is Social

Top Medical Newsletters

Awards

Best Health/Healthcare Content, 2012
Best Health/Healthcare Content, 2011
Best e-Business Site, 2010
Best e-Business Site, 2009
Best e-Business Site, 2008
Best e-Business Site, 2007
Best e-Business Site, 2006
Best Healthcare Content, 2005
Best Overall Internet Site, 2005
Best Interactive Site, 2005

Facts & Stats

NewsRx also is available at LexisNexis, Gale, ProQuest, Factiva, Dialog, Thomson Reuters, NewsEdge, and Dow Jones.

Google 2010 PageRank: #2 Among Top Health News and Media Publications
Google 2010 PageRank: #2 Among Top Science Publications in Biology/Physiology
Google 2010 PageRank: #2 Among Top News and Media for the Business of Pharmaceuticals
Amazon's Alexa 2010 PageRank: #2 News and Media Site for the Pharmaceutical Industry