Contrast injector technology firm Medrad of Indianola, PA, has successfully completed its tender offer for shares of cardiovascular device firm Possis Medical of Minneapolis.
A total of 15 million Possis shares were tendered to Medrad as of the offer's expiration deadline on March 25, which when included with 715,000 shares already tendered represent 92% of the company's outstanding common stock.
Medrad has announced a deadline of April 1 for the remaining Possis shares; during this period, Possis shareholders who have not already tendered their shares can do so at a price of $19.50 per share.
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