Stryker (NYSE:SYK) has agreed to acquire Wright Medical Group (NASDAQ:WMGI) for $30.75 per share, representing a total equity value of $4.0B and an enterprise value of $5.4B including convertible notes.
Stryker says the transaction, expected to close in H2 2020, will have no impact on its non-GAAP EPS in 2019 or its previously announced non-GAAP EPS 2020 guidance of $8.20 – 8.25. It expects dilution of ($0.10) to non-GAAP EPS in 2021 and accretion thereafter.
Stryker will host a conference call this morning at 8:00 am ET to discuss the deal.
WMGI is up 32% premarket on increased volume. SYK is off a fraction.
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