Kalamazoo, Michigan, Aug. 28, 2020 (GLOBE NEWSWIRE) -- Stryker (NYSE:SYK) announced today that Stryker B.V., an indirect, wholly owned subsidiary of Stryker, has extended the offering period of its previously announced cash tender offer for all outstanding ordinary shares of Wright Medical Group N.V. (NASDAQ:WMGI). The tender offer is being made pursuant to the purchase agreement, dated November 4, 2019, among Stryker, Stryker B.V. and Wright Medical.
The tender offer is now scheduled to expire at 5:00 p.m., Eastern Time, on September 30, 2020, unless the tender offer is further extended or earlier terminated in accordance with the purchase agreement.
American Stock Transfer & Trust Company, LLC, the depositary for the tender offer, has advised Stryker B.V. that as of 5:00 p.m., Eastern Time, on August 27, 2020, the last business day prior to the announcement of the extension of the offer, 13,610,322 Wright Medical ordinary shares (excluding Wright Medical ordinary shares tendered pursuant to guaranteed delivery procedures), representing approximately 10.5% of the outstanding Wright Medical ordinary shares, have been validly tendered pursuant to the tender offer and not properly withdrawn and an additional 729,308 Wright Medical ordinary shares, representing approximately 0.6% of the outstanding Wright Medical ordinary shares, had been tendered pursuant to guaranteed delivery procedures. Shareholders who have already tendered their Wright Medical ordinary shares do not have to re-tender their shares or take any other action as a result of the extension of the expiration date of the tender offer.
Completion of the tender offer remains subject to the conditions described in the tender offer statement on Schedule TO filed by Stryker B.V. with the U.S. Securities and Exchange Commission on December 13, 2019, as amended. The tender offer will continue to be extended until all conditions are satisfied or waived, or until the tender offer is terminated, in either case pursuant to the terms of the purchase agreement and as described in the Schedule TO.
Innisfree M&A Incorporated is acting as information agent for the tender offer. Requests for documents and questions regarding the tender offer may be directed to Innisfree M&A Incorporated by telephone, toll-free at (888) 750-5834 for shareholders, or collect at (212) 750-5833 for banks and brokers.