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Sofamor Danek Group Inc

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November 3, 1998 | From Bloomberg News
Medtronic Inc. said Monday that it has agreed to buy Sofamor Danek Group Inc., the biggest maker of spinal implants, for $3.6 billion in stock to double its sales of devices to treat nervous-system disorders and injuries. Medtronic will issue $115 in stock for each Sofamor share, or 13% more than Sofamor's closing price Friday of $101.63. Sofamor jumped $8.50 on Monday to $110.13, and shares of Medtronic, the biggest pacemaker company, gained $1.56 to $66.56, both on the New York Stock Exchange.
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BUSINESS
December 1, 1998 | From Reuters
Medical technology giant Medtronic Inc. said Monday that it had agreed to acquire Arterial Vascular Engineering Inc. for $3.7 billion, forming the world's largest stent manufacturer. Stents--small wire mesh tubes that support coronary blood vessels weakened by disease--constitute the fastest-growing market in the $130-billion medical devices business. Santa Rosa-based Arterial Vascular is one of a handful of companies riding a powerful wave of stent growth.
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