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Cynosure Inc Completes Acquisition Of Palomar Medical Technologies Inc


Monday, 24 Jun 2013 04:40pm EDT 

Cynosure Inc announced that the completion of its acquisition of Palomar Medical Technologies Inc Cynosure purchased Palomar in a cash and stock transaction valued at approximately $287 million. In the transaction, Cynosure issued approximately six million shares and paid approximately $146 million in cash contributed by both Cynosure and Palomar. The closing of the transaction follows approvals by Cynosure stockholders and Palomar stockholders at separate stockholders' meetings today. At the Cynosure stockholders' meeting, Cynosure stockholders approved the issuance of shares of Cynosure Class A common stock in the merger. At the Palomar stockholders' meeting, Palomar stockholders adopted the merger agreement between the companies. Under the terms of the agreement, each outstanding share of Palomar common stock converted into the right to receive $6.825 in cash and 0.2819 shares of Cynosure Class A common stock. 

Company Quote

20.84
0.21 +1.02%
11 Jul 2014