Medtronic Agrees to Acquire Bio-Medicus
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MINNEAPOLIS — Cardiac pacemaker giant Medtronic Inc. said Friday that it had agreed to buy Bio-Medicus Inc. for $190 million in a bid to diversify its line of cardiovascular medical devices.
The two biotechnology companies settled on a stock swap worth $25 a share to Bio-Medicus shareholders, but the value and stock swap ratio could change, based on fluctuations in Medtronic’s stock price.
Bio-Medicus’ board accepted the bid in a meeting Thursday night, hours after Medtronic sweetened its bid.
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