logo
Share SHARE
FONT-SIZE Plus   Neg

HeartWare Intl. To Buy World Heart For $8 Mln

HeartWare International, Inc. (HTWR: Quote), which develops and manufactures miniaturized ventricular assist devices, said Thursday that it has agreed to buy World Heart Corp. (WHRT: Quote), 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
Uber Technologies Inc., the rapidly growing ride-sharing service, has stumbled upon another problem in Japan. The Japaneses transport ministry has asked Uber to pull the plug on a pilot program in the city of Fukuoka. Last month, Uber started a pilot program in Fukuoka, Japan's sixth-largest city,... Firearms maker Smith & Wesson Holding Corp. (SWHC), Tuesday reported a drop in profit for the third quarter, as revenues and margins declined reflecting lower sales of long guns. However, earnings for the quarter came in ahead of Wall Street estimates as did revenues. Moving ahead, the company boosted... Target Corp (TGT) on Tuesday said it plans $2 billion of cost savings over the next two years, mainly at its corporate headquarters, as the discount retailer strives to boost profit and become a leaner outfit. Reports said that about $500 million of the savings would occur in the current year, and...
comments powered by Disqus
RELATED NEWS
Trade HTWR now with 
Follow RTT