Synergy Health shares soar after US judge green-lights takeover
SHARES in Synergy Health soared over 40 per cent on Friday after a US judge gave the go ahead for the British health outsourcing firm to be purchased by US rival Steris.
The £1.25bn deal had previously been blocked by US antitrust regulators, but was reversed by the US district court in Cleveland, Ohio.
The Federal Trade Commission had claimed that the takeover would hurt competition in the US, and pointed to Synergy’s decision to scrap plans to enter the US market.
“We are pleased with the court’s decision and we will work to expeditiously close the acquisition of Synergy Health,” said Walt Rosebrough, president and chief executive of Steris.
Synergy chief exec Richard Steeves said he believes “that this is a strategically sensible deal that is beneficial to our customers, employees and our shareholders.”