Philips completes offer for Spectranetics

Royal Philips, the parent company of Philips Healthcare, has completed its tender offer for vascular intervention equipment manufacturer Spectranetics.

As a result, Philips expects it will finalize its $2.2 billion (1.87 billion euro) acquisition of Spectranetics on 9 August. Spectranetics shareholders will receive $38.50 (32.79 euros) per share in cash.

Spectranetics will now become a wholly owned subsidiary of Philips.

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