Medtronic to acquire troubled biologics company for $123M
Medtronic Inc. (NYSE: MDT) said Tuesday it will purchase Osteotech Inc. (NASDAQ: OSTE) for $123 million. The world's largest medical device maker, based in Fridley, Minnesota, said it would pay $6.50 for each Osteotech share, a 65 percent premium over Osteotech's Monday closing price of $3.94.