U.S. Surgical/Circon
This article was originally published in The Gray Sheet
Executive Summary
U.S. Surgical ends its two-year hostile takeover bid to acquire Circon in light of USSC's recent agreement to be acquired by Tyco International and Circon's recent solicitation of bids from other companies. The 6.4 mil. Circon shares tendered under the $16.50-per-share offer will be returned to Circon shareholders