THERMO ELECTRON'S $265 MIL. MERGER OFFER TO PURITAN-BENNETT
This article was originally published in The Gray Sheet
Executive Summary
THERMO ELECTRON'S $265 MIL. MERGER OFFER TO PURITAN-BENNETT represents a 25% premium over the market value of the company the day before the Oct. 6 offer. In an unsolicited proposal contingent on approval by P-B's board of directors, Waltham, Massachusetts- based Thermo Electron offered to pay $21 per share in cash for all outstanding Puritan-Bennett shares; the issue had closed at 16-3/4 on Oct. 5.