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July 17, 2007 | From the Associated Press
Medical device maker ReAble Therapeutics Inc. announced plans Monday to acquire orthopedic sports medicine company DJO Inc. for $1.18 billion in cash. Austin, Texas-based ReAble offered to pay $50.25 a share for DJO, 19.4% higher than the stock's closing price Friday. Shares of Vista, Calif.-based DJO surged $8, or 19%, to $50.10. The deal has been unanimously approved by DJO's board of directors and committee of independent directors.
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