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Sunday, 29 October 2017 12:57

MiBiz Growth Report: Oct. 30, 2017

Here is the MiBiz Growth Report for Oct. 30, 2017:

• M&A: Stryker Corp. acquired a majority interest in French medical device company Vexim SA and plans to make a tender offer to buy out its remaining shareholders. The Kalamazoo-based Stryker (NYSE: SYK) acquired 50.7 percent of shares and 50.3 percent of voting rights to Vexim, based in Balma, near Toulouse, France. Stryker paid 20 euros per share to funds managed by Truffle Capital, Bpifrance and Kreaxi, as well as Vexim managers. Vexim said the acquisition of the majority stake by Stryker has an equity value of 183 million euros, which equates to about $216 million. Vexim specializes in devices for minimally invasive procedures to treat traumatic spinal pathologies.

Published in In the News

SARANAC — One West Michigan producer of eggs plans to capitalize on the growing U.S. market for cage-free and organic products.

Published in Manufacturing

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