With approval from the U.S. Federal Trade Commission, Stryker and K2M plan to finalize the $1.4 billion merger Nov. 9.
K2M shareholders approved the acquisition Nov. 7 after previously filing to block the deal. Per the agreement, K2M will be merged with Stryker subsidiary Merger Sub and become a wholly owned subsidiary of Stryker.
When the merger is complete, K2M stockholders will receive $27.50 in cash per share. Both parties expected the deal to close during the fourth quarter, making this on schedule.
As part of the agreement, K2M Chairman, CEO and President Eric Major is expected to become president of Stryker's spine division.