Covidien Plc plans to buy Somanetics Corp. for US$25 a share in cash, according to reports. The deal valued at US$250mn. Covidien said the acquisition would broaden its medical equipment product offerings and create earnings growth over time. The deal values Somanetics at a premium of US$6.10, or 32%, over its closing price of US$18.9 a share on 15th June.
India Infoline News Service / 09:04, Jan 22, 2015
The outlook is a flat start. The market will look to scale to new peaks though not much effort is needed for the same. HUL saw a rally and short-covering may have pulled it up further. Speculation is on that its parent will raise stake through an open offer. After the cooling in oil prices, Cairn results will be in focus.