Vascular device developer Conor Medsystems reported that its shareholders have approved the acquisition of the Menlo Park, CA-based firm by Johnson & Johnson.
Under the terms of the merger agreement, Conor's stockholders will be entitled to receive $33.50 for each outstanding share of its common stock.
The proposed transaction is expected to close within the next few days, subject to the satisfaction of the remaining closing conditions, according to the company.
By AuntMinnie.com staff writers
February 1, 2007
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