Somanetics (SMTS) was the most advancing stock in the Nasdaq Wednesday morning, with shares up more than 31%, or nearly $6 to $24.85. Shares reacted to news that Covidien (COV) is buying Somanetics, acquiring all of the outstanding shares of Somanetics for $25.00 per share in cash, a 32% premium to Tuesday's close. Covidien will pay a total of $250 million, for a total transaction value of approximately $300 million.
Covidien, a drug and medical devices maker, is already the distributor for Somanetics' noninvasive diagnostic equipment called INVOS (In-Vivo Optical Spectroscopy) Cerebral/Somatic Oximeter in Europe, the Middle East and Africa. INVOS monitors patients and continuously measures blood oxygen levels in the brain and in the body to help detect and correct complications.
Savings Experiment: Snow Removal
Bonds Are a 'Safe' Investment: A Big Lie Gets Even Bigger.gif)
.gif)


