Sulzer Medica/Tutogen Medical
This article was originally published in The Gray Sheet
Executive Summary
Sulzer increases stake in bioimplants maker Tutogen through Nov. 17 deal with Capital Partners II, under which Sulzer will purchase up to 50% of beneficiaries' interests in Capital Partners for about $30 mil. (21,627 trust units at $1,387 each). Capital Partners owns more than 50% of Tutogen. Sulzer already has a stake of almost 10% in Tutogen, and markets the firm's bone tissue products for spinal and dental applications. If Sulzer is offered fewer than 8,651 trust units, then the firm will have no obligation to complete the deal, Sulzer notes. Tender offer is valid for at least 20 working days