Amplitude Surgical Shareholders Strike Deal For Sale of 75.4% Interest to Zydus Lifesciences
Holders of 75.4% of Amplitude Surgical's shares have agreed to sell their majority stake to Zydus Lifesciences for 6.25 euros per share. Including previous agreements, Zydus will acquire 85.6% of the French orthopedic company. The deal is expected to close in Q3, pending conditions. With additional minority shareholders also agreeing to sell, Zydus anticipates acquiring over 90% and initiating a squeeze-out for remaining shares.
Holders of 75.4% of Amplitude Surgical's shares entered an agreement with Zydus Lifesciences for the sale of the majority stake for 6.25 euros apiece, according to an April 25 filing.
Counting two prior share purchase agreements, the Indian pharmaceutical company has committed to buying 85.6% of the French orthopedic technology company. The block deal is expected to close in the third quarter, subject to the satisfaction of closing conditions.
As other minority shareholders of Amplitude have also committed to tender their shares, Zydus expects to acquire over 90% of the company and implement a squeeze-out procedure for the remaining shares.
