Enpath (NASDAQ:NPTH)
Historical Stock Chart
From Jun 2019 to Jun 2024
Greatbatch, Inc. (NYSE:GB) and Enpath Medical, Inc. (NASDAQ:NPTH)
announced today that the waiting period under the Hart-Scott-Rodino
Antitrust Improvements Act of 1976 (HSR) with respect to Greatbatch’s
acquisition of Enpath has expired.
On May 8, 2007, Greatbatch commenced an all-cash tender offer for all of
the outstanding shares of Enpath common stock for $14.38 per Enpath
share. The tender offer is being made pursuant to the definitive merger
agreement unanimously approved by the Boards of Directors of both
companies and announced on April 30, 2007. The Enpath Board of Directors
has unanimously recommended that Enpath shareholders tender their shares
into the offer.
The tender offer will expire at 12:00 midnight New York City time, on
Tuesday, June 5, 2007 (the end of the day on Tuesday), unless extended.
Following successful completion of the tender offer, holders of any
remaining outstanding shares of Enpath will be entitled to receive cash
of $14.38 per share of Enpath common stock upon closing of the
acquisition.
As previously announced, the transaction is subject to customary closing
conditions, as well as the valid tender of a majority of the outstanding
shares of Enpath common stock, on a fully-diluted basis. The expiration
of the HSR waiting period has satisfied one of the closing conditions.
Greatbatch expects to close the transaction in late June.
The complete terms and conditions of the tender offer are set forth in
the Offer to Purchase and certain additional information is set forth in
the Solicitation/Recommendation Statement of Enpath, copies of which are
available by contacting Georgeson, the Information Agent for the tender
offer, at 1-866-580-6912 toll free. The Dealer Manager for the tender
offer is Banc of America Securities LLC.
About Greatbatch
Greatbatch, Inc. is a leading developer and manufacturer of critical
components used in implantable medical devices and other technically
demanding applications.
About Enpath Medical
Enpath Medical, Inc., headquartered in Plymouth, Minnesota, is a leader
in the design, development, manufacture and marketing of percutaneous
delivery systems and stimulation leads technologies. Its proprietary
products include venous vessel introducers, articulating and fixed curve
delivery catheters, epicardial and endocardial stimulation leads, and
other products for use in pacemaker, defibrillator, catheter and
infusion port procedures as well as neuromodulation markets. Its
products, which are primarily finished goods, are sold worldwide through
partnering relationships with other medical device companies.
Forward-Looking Statements
This press release contains forward-looking statements regarding the
proposed transaction between Greatbatch and Enpath, including a
statement regarding the anticipated closing of the above described
acquisition. These statements are based on current expectations,
forecasts and assumptions. Actual results could differ materially from
those anticipated by these forward-looking statements as a result of a
number of factors, some of which may be beyond Greatbatch’s
or Enpath’s control. Among other things, these
factors include the risk that the acquisition will not be completed
because the tender offer did not proceed as anticipated or closing
conditions to the acquisition were not satisfied. For a further list and
description of risks and uncertainties associated with Greatbatch’s
and Enpath’s businesses, see their reports
filed with the Securities and Exchange Commission (SEC), including the “Risk
Factors” section in each company’s
most recent annual report on Form 10-K. The companies disclaim any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise, except as required by law.
Additional Information
This communication is neither an offer to purchase nor a solicitation of
an offer to sell any securities. The offer to buy shares of Enpath
common stock is being made pursuant to a Tender Offer Statement filed by
Greatbatch and its subsidiaries with the SEC on Schedule TO on May 8,
2007. A Solicitation/Recommendation Statement with respect to the offer
was filed by Enpath with the SEC on Schedule 14D-9 on May 8, 2007.
Enpath shareholders are advised to read the Tender Offer Statement and
the related Solicitation/Recommendation Statement. These documents
contain important information that should be read carefully before any
decision is made with respect to the offer. These documents are
available to all shareholders of Enpath at no expense to them. These
documents are available at no charge on the SEC’s
web site at www.sec.gov. Shareholders
may also obtain copies of these documents without charge by requesting
them from Georgeson, the Information Agent, at 1-866-580-6912 toll free.