logo
Share SHARE
FONT-SIZE Plus   Neg

HeartWare Intl. To Buy World Heart For $8 Mln

HeartWare International, Inc. (HTWR), which develops and manufactures miniaturized ventricular assist devices, said Thursday that it has agreed to buy World Heart Corp. (WHRT), which has been engaged in the development of left ventricular assist devices, for consideration of US$8 million, which will be paid in shares of HeartWare common stock or cash, at HeartWare's election.

The per share merger consideration will be determined by dividing $8 million by the number of shares of WorldHeart common stock outstanding on a fully diluted basis, or about $0.29 per share at today's fully diluted WorldHeart common stock outstanding.

The boards of directors of both companies have approved the deal, which is subject to the approval of WorldHeart's stockholders and satisfaction of other customary closing conditions. HeartWare stockholder approval is not required.

The deal is expected to close within about 90 days.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
The air travel industry has always struggled to earn a good reputation for customer service, but frankly, there are several issues related to customer satisfaction that are beyond the control of airlines. Security issues and airlines' dependence on the volatile fuel market are challenging issues that... Changyou.com Ltd. (CYOU) Monday reported first quarter net income attributable to Changyou.com of $30 million, down from $32 million in the prior year. Adjusted net income was $35 million. The online games developer noted that its first quarter was impacted by currency fluctuations. On average, five... Dutch consumer electronics giant Philips Electronics NV reported Monday significantly higher earnings in its first quarter as sales were boosted by higher volume. Looking ahead, the company said its outlook for 2017 remains unchanged as it expects further operational improvements and comparable sales growth in the year to be back-end loaded.
comments powered by Disqus
Follow RTT