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Apax Partner to Acquire Syneron

Wednesday, April 5, 2017   (0 Comments)
Posted by: Aly Boeckh
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An affiliate of funds advised by Apax Partners will acquire all of the outstanding shares of Syneron Candela for $11.00 per share in cash in a transaction valued at approximately $397 million.

The per share acquisition price represents a 15 percent premium to Syneron Candela's 90-day volume-weighted average closing price through March 31, 2017, and a 33 percent premium to Syneron Candela's 90-day volume-weighted average closing price through February 10, 2017, the last trading day prior to media speculation of a transaction with funds advised by Apax.

The transaction is subject to customary closing conditions, including Syneron Candela shareholder approval and the receipt of certain regulatory approvals.  The Syneron Candela Board of Directors has unanimously approved the transaction. Subject to standard fiduciary obligations, Dr. Shimon Eckhouse, who owns 7.4 percent of the Company, has entered into a customary voting agreement pursuant to which he has agreed to vote all of his shares in favor of the transaction. There are no financing conditions associated with the transaction.

Read more at Modern Aesthetics >>


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