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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 Research Team / 14:59, May 20, 2015
GPIL reported 13.5% yoy decline in operating profit as the impact of higher volumes was offset by lower product prices