Siemens Healthineers AG’s $1.1 Billion Acquisition of Corindus Vascular Robotics

Citigroup Global Markets Inc. is acting as exclusive financial advisor to Corindus and Cadwalader, Wickersham & Taft LLP is serving as its legal advisor.

Corindus Vascular Robotics (NYSE American: CVRS), a leading developer of precision vascular robotics, today announced that it has entered into a definitive merger agreement to be acquired by Siemens Healthineers AG. Under the terms of the merger agreement, Siemens Medical Solutions, a wholly-owned subsidiary of Siemens Healthineers AG, a German stock listed company, will acquire all issued and outstanding shares of common stock of Corindus for $4.28 per share in cash, representing an aggregate purchase price of approximately $1.1 billion.

The transaction has been approved by the Board of Directors of Corindus and is expected to close in the fourth quarter of 2019, subject to approval by Corindus stockholders, the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and the satisfaction of other customary closing conditions.

Cadwalader advised Corindus Vascular Robotics with a team including Christopher Cox (Picture), William Mills, Gregory Patti, Nick Ramphal, Peter Bariso, Daniel Shiner, Marianna Wonder, David Teigman, Nicholas LaSpina, Joel Mitnick, Ngoc Hulbig, Linda Swartz and Matthew Seitz.

Involved fees earner: Peter Bariso – Cadwalader Wickersham & Taft; Christopher Cox – Cadwalader Wickersham & Taft; Nicholas Laspina – Cadwalader Wickersham & Taft; William Mills – Cadwalader Wickersham & Taft; Joel Mitnick – Cadwalader Wickersham & Taft; Gregory Patti – Cadwalader Wickersham & Taft; Ngoc Pham Hulbig – Cadwalader Wickersham & Taft; Nick Ramphal – Cadwalader Wickersham & Taft; Matthew Seitz – Cadwalader Wickersham & Taft; Daniel Shiner – Cadwalader Wickersham & Taft; Linda Swartz – Cadwalader Wickersham & Taft; David Teigman – Cadwalader Wickersham & Taft; Marianna Wonder – Cadwalader Wickersham & Taft;

Law Firms: Cadwalader Wickersham & Taft;

Clients: Corindus Vascular Robotics, Inc.;

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Author: Ambrogio Visconti