Stryker Corp.04.28.20
Stryker Corp. announced that Stryker B.V., an indirect, wholly owned subsidiary of the company, has extended the offering period of its previously announced cash tender offer for all outstanding ordinary shares of Wright Medical Group N.V. The tender offer is being made pursuant to the purchase agreement, dated Nov. 4, 2019, among Stryker, Stryker B.V., and Wright Medical.
The tender offer is now scheduled to expire at 5 p.m., eastern time, on June 30, unless the tender offer is further extended or earlier terminated in accordance with the purchase agreement.
American Stock Transfer & Trust Company LLC, the depositary for the tender offer, has advised Stryker B.V. that as of 5 p.m., eastern time on April 24, the last business day prior to the announcement of the extension of the offer, 5,343,007 Wright Medical ordinary shares (excluding Wright Medical ordinary shares tendered pursuant to guaranteed delivery procedures), representing approximately 4.2 percent of the outstanding Wright Medical ordinary shares, have been validly tendered pursuant to the tender offer and not properly withdrawn and an additional 534,244 Wright Medical ordinary shares, representing approximately 0.4 percent of the outstanding Wright Medical ordinary shares, had been tendered pursuant to guaranteed delivery procedures. Shareholders who have already tendered their Wright Medical ordinary shares do not have to re-tender their shares or take any other action as a result of the extension of the expiration date of the tender offer.
Completion of the tender offer remains subject to the conditions described in the tender offer statement on Schedule TO filed by Stryker B.V. with the U.S. Securities and Exchange Commission on Dec. 13, 2019, as amended. The tender offer will continue to be extended until all conditions are satisfied or waived, or until the tender offer is terminated, in either case pursuant to the terms of the purchase agreement and as described in the Schedule TO.
The tender offer is now scheduled to expire at 5 p.m., eastern time, on June 30, unless the tender offer is further extended or earlier terminated in accordance with the purchase agreement.
American Stock Transfer & Trust Company LLC, the depositary for the tender offer, has advised Stryker B.V. that as of 5 p.m., eastern time on April 24, the last business day prior to the announcement of the extension of the offer, 5,343,007 Wright Medical ordinary shares (excluding Wright Medical ordinary shares tendered pursuant to guaranteed delivery procedures), representing approximately 4.2 percent of the outstanding Wright Medical ordinary shares, have been validly tendered pursuant to the tender offer and not properly withdrawn and an additional 534,244 Wright Medical ordinary shares, representing approximately 0.4 percent of the outstanding Wright Medical ordinary shares, had been tendered pursuant to guaranteed delivery procedures. Shareholders who have already tendered their Wright Medical ordinary shares do not have to re-tender their shares or take any other action as a result of the extension of the expiration date of the tender offer.
Completion of the tender offer remains subject to the conditions described in the tender offer statement on Schedule TO filed by Stryker B.V. with the U.S. Securities and Exchange Commission on Dec. 13, 2019, as amended. The tender offer will continue to be extended until all conditions are satisfied or waived, or until the tender offer is terminated, in either case pursuant to the terms of the purchase agreement and as described in the Schedule TO.