Advertisement
YOU ARE HERE: LAT HomeCollections

California: News and Insight on Business in the Golden
State | THE STATE / HEALTH

Circon to Ease Anti-Takeover Provisions

November 11, 1998|Bloomberg News

Circon Corp. agreed to ease anti-takeover provisions and consider being acquired, bowing to shareholders upset by the surgical-products maker's rejection of a bid from U.S. Surgical Corp. Santa Barbara-based Circon said it will consider new proposals and invited discussions from companies it negotiated with earlier. Norwalk, Conn.-based U.S. Surgical withdrew its $230-million offer Sept. 15 after agreeing to be bought by Tyco International Ltd. Tyco said last month that Circon had also rejected its bid for the company. Circon makes minimally invasive surgical products. It had 1997 revenue of $160 million. Circon shares rose 6 cents to close at $10 on Nasdaq.

Advertisement
Los Angeles Times Articles
|
|
|