Shareholder rights attorneys at Robbins Arroyo LLP are investigating the proposed acquisition of Symmetry Surgical Inc. (NASDAQ: SSRG) by RoundTable Healthcare Partners (Private). On May 2, 2016, the two companies announced the signing of a definitive merger agreement pursuant to which RoundTable Healthcare will acquire Symmetry Surgical. Under the terms of the agreement, Symmetry Surgical shareholders will receive $13.10 in cash for each share of Symmetry Surgical common stock.

View this information on the law firm's Shareholder Rights Blog: www.robbinsarroyo.com/shareholders-rights-blog/symmetry-surgical-inc

Is the Proposed Acquisition Best for Symmetry Surgical and Its Shareholders?

Robbins Arroyo LLP's investigation focuses on whether the board of directors at Symmetry Surgical is undertaking a fair process to obtain maximum value and adequately compensate its shareholders.

As an initial matter, the $13.10 merger consideration represents a premium of only 26.1% based on Symmetry Surgical's closing price on April 29, 2016. This premium is significantly below the average one-day premium of nearly 60% for comparable transactions within the past year.

On February 18, 2016, Symmetry Surgical reported strong earnings results for its fourth quarter 2015. Revenue for the quarter was $22.1 million, an increase of 9.1% compared to the same period last year. Gross profit for the quarter was $9.8 million, an increase of 18% compared to the same period last year. In commenting on these results, Symmetry Surgical President and Chief Executive Officer Thomas J. Sullivan remarked, "We are pleased to have completed our first full year as a public company with positive fourth quarter results, including our fourth consecutive quarter of revenue growth and delivering our full year revenue and EBITDA guidance. We continued to deliver a high free cash flow conversion rate, generating $2.1 million in EBITDA and $2.9 million in free cash flow during the quarter. Further, our most recent asset acquisition, branded the Symmetry Access™ Low Profile Retractor product line, is another building block in our growth plan that expands our presence in the single use segment of the market, which drives higher margin recurring revenue. We will continue to acquire innovative products, supported by intellectual property protection, that bring clinical and economic value to our customers."

In light of these facts, Robbins Arroyo LLP is examining Symmetry Surgical's board of directors' decision to sell the company now rather than allow shareholders to continue to participate in the company's continued success and future growth prospects.

Symmetry Surgical shareholders have the option to file a class action lawsuit to ensure the board of directors obtains the best possible price for shareholders and the disclosure of material information. Symmetry Surgical shareholders interested in information about their rights and potential remedies can contact attorney Darnell R. Donahue at 800-350-6003, ddonahue@robbinsarroyo.com, or via the shareholder information form on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in securities litigation and shareholder rights law. The law firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.

Attorney Advertising. Past results do not guarantee a similar outcome.

Robbins Arroyo LLPDarnell R. Donahue619-525-3990 or Toll-Free 800-350-6003ddonahue@robbinsarroyo.comwww.robbinsarroyo.com

Grafico Azioni Symmetry Surgical Inc. (NASDAQ:SSRG)
Storico
Da Mag 2024 a Giu 2024 Clicca qui per i Grafici di Symmetry Surgical Inc.
Grafico Azioni Symmetry Surgical Inc. (NASDAQ:SSRG)
Storico
Da Giu 2023 a Giu 2024 Clicca qui per i Grafici di Symmetry Surgical Inc.