Medtronic Goes Wide In China With $816M Device Maker Buy

Law360, New York (September 28, 2012, 2:49 PM EDT) -- Medical technology giant Medtronic Inc. will put up $816 million in cash to gain a firmer foothold in the Chinese medical device market by acquiring China Kanghui Holdings, a Chinese company that specializes in orthopedic implants, the buyer announced late Thursday.

Medtronic, which last year posted $16.2 billion in sales, has agreed to pay $30.75 for each outstanding share of Kanghui, according to a statement from the Minneapolis conglomerate. The offer represents a more than 22 percent premium on Kanghui’s Thursday close on the New York...
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