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Tyco International to Acquire Interest in Airox to Expand Respiratory Care Product Line.

Publication: PR Newswire
Publication Date: 02-AUG-06
Format: Online
Delivery: Immediate Online Access

Article Excerpt
PEMBROKE, Bermuda, Aug. 2 /PRNewswire-FirstCall/ -- Tyco International Ltd. today announced that Tyco Healthcare has agreed to acquire 37.25 percent of the share capital of Airox S.A. (Eurolist, compartiment C) for EUR 31.7 million (approximately $40 million USD). Airox is a leading European company in the home respiratory ventilation systems business with 2005 revenue of EUR 18 million (approximately $22 million USD). Tyco will pay EUR 17 (approximately $21.60 USD) in cash per Airox share. The share price represents a 30 percent premium over the current stock price and the transaction is expected to close by October 31, 2006.

Upon completion of the initial share purchase transaction, Tyco will launch a mandatory tender...



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