Imaging giant Philips is hoping acquisitions will help it out of its current slump, betting €800m ($1bn) on cardiovascular device specialist Volcano. The deal is worth $18 per Volcano share, a 57% premium over its closing price of $11.49 on 16 December, the day the acquisition was announced.
Imaging giant Philips is hoping acquisitions will help it out of its current slump, betting €800m ($1bn) on cardiovascular device specialist Volcano. The deal is worth $18 per Volcano share, a 57% premium over its closing price of $11.49 on 16 December, the day the acquisition was announced.
It is the largest buy Philips has made since its €3.6bn purchase of Respironics in 2008.
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