US Surgical ends bid for Circon:
This article was originally published in Clinica
Executive Summary
As expected, US Surgical has ended its two-year long hostile attempt to take over Circon. The decision was taken in light of US Surgical's proposed merger with Tyco International and the recent announcement from Santa Barbara, California-based Circon that it has invited various companies to make bids to acquire it (see Clinica Nos 823, p 7 & 810, pp 1-2). Tyco is a highly acquisitive company but not one which pursues hostile takeovers. Circon, which makes minimally-invasive equipment for urological and gynaecological procedures, welcomed the announcement from Norwalk, Connecticut-based US Surgical, which also produces minimally-invasive medical equipment.