Inari Medical Jumps 22% as Stryker Confirms $4.9B Acquisition Deal with 60% Premium

Stryker to acquire Inari Medical for $80/share, boosting its vascular treatment portfolio with innovative technologies

5 days ago

Summary

Inari Medical soars 22% after Stryker's $4.9B acquisition announcement, offering a 60% premium per share.

Early trading Tuesday showed a 22% bump for Inari Medical (NARI, Financial), which rose from Monday when Stryker (SYK, Financial) revealed an agreement to buy the medical equipment manufacturer for over $4.9 billion.

Paying $80 per share in cash, Stryker will be more than a 60% premium over Friday's closing price. Specialized in devices to treat venous thromboembolism, Inari's stock increased 56% over the past month in response to rumors of a possible merger.

Under the definitive agreement, Stryker will start a tender offer for every outstanding Inari share at $80 apiece. Any remaining shares will be bought at the same price via a second-step merger.
Assuming normal closing circumstances, the transaction is projected to close by the end of the first quarter of 2025. On Jan. 28, Stryker intends to address the financial effects of the deal at its fourth-quarter 2024 conference call.

The agreement highlights Stryker's calculated attempt to increase its portfolio in vascular treatments and profit from Inari's discoveries in blood clotting disorders.

Disclosures

I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours. Click for the complete disclosure

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