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Spectramed Company

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August 5, 1988 | LESLIE BERKMAN, Times Staff Writer
Spectramed, a Newport Beach medical equipment manufacturer with a tumultuous track record, said Thursday that it has agreed to be acquired by a giant British medical company for $100 million in cash. The $12-per-share offer by London-based BOC Group represents a 140% premium over Wednesday's closing price of $5 per share. Announcement of the deal caused Spectramed stock to soar to $11.50 per share Thursday on heavy volume of 2.2 million shares.
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BUSINESS
August 5, 1988 | LESLIE BERKMAN, Times Staff Writer
Spectramed, a Newport Beach medical equipment manufacturer with a tumultuous track record, said Thursday that it has agreed to be acquired by a giant British medical company for $100 million in cash. The $12-per-share offer by London-based BOC Group represents a 140% premium over Wednesday's closing price of $5 per share. Announcement of the deal caused Spectramed stock to soar to $11.50 per share Thursday on heavy volume of 2.2 million shares.
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