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Circon (A) Case

Circon (A) Case. April 20, 2006. Circon’s Performance. Offer by U.S. Surgical first made August 2, 1996 for $18/share when share price was around $12-1/8 Offer lowered to $17 on December 14, 1996 Offer limited to 14.9% of shares at $14.50 on June 16, 1997

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Circon (A) Case

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  1. Circon (A) Case April 20, 2006

  2. Circon’s Performance • Offer by U.S. Surgical first made August 2, 1996 for $18/share when share price was around $12-1/8 • Offer lowered to $17 on December 14, 1996 • Offer limited to 14.9% of shares at $14.50 on June 16, 1997 • Offer to buy remainder at $16.50 until offer dropped on September 15, 1998

  3. Board meeting October 16, 1998 • Auhll agreed to resign • Shares fell to $8.25 • Cloutier named interim CEO assigned goal to engineer sale of company • Circon sold in November 1998 to Maxxim Medical for $15/share

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