Sorin/Cyberonics $2.7 billion merger

Overview:

• Sorin and Cyberonics have agreed a $2.7 billion merger.
• Both are medical device companies with Sorin focusing on cardiovascular diseases and Cyberonics on neuromodulation.
• Sorin is headquartered in Milan with Cyberonics based in Houston. The new company will relocate to the UK.
• The deal will see the combined company active in over 100 countries with around 4,500 employees.
• Sorin will hold 46% of the combined company with Cyberonics shareholders holding 54%.

Sam Duke - Editor