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Investing.com -- ZimVie Inc. (NASDAQ:ZIMV) stock surged 122% following the announcement that the dental implant market leader will be acquired by healthcare investment firm ARCHIMED in a deal valued at approximately $730 million.
Under the terms of the agreement, ZimVie stockholders will receive $19.00 in cash per share, representing a 99% premium to the company’s 90-day volume-weighted average price of $9.57. The transaction, unanimously approved by ZimVie’s Board of Directors, is expected to close by year-end 2025, subject to stockholder and regulatory approvals.
"This transaction marks a new chapter for ZimVie and underscores the value our team has built over the past several years," said Vafa Jamali, Chairman of the Board and Chief Executive Officer of ZimVie.
Following the completion of the deal, ZimVie will become a privately held company and its shares will no longer trade on the NASDAQ stock exchange. The agreement includes a 40-day "go-shop" period through August 29, 2025, during which ZimVie may solicit alternative proposals from third parties.
The dental implant specialist has retained Centerview Partners as its exclusive financial advisor for the transaction, while ARCHIMED is being advised by UBS Investment Bank. The deal is not subject to a financing condition, and ZimVie will continue operating as usual until closing.
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