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Holly LaFon
Holly LaFon
Articles (10163)  | Author's Website |

Mario Gabelli Comments on ArthroCare Corp

April 30, 2014 | About:
ArthroCare Corp. (ARTC) (0.3% of net assets as of March 31, 2014) (ARTC - $48.19 - NASDAQ) is a Texas based developer of medical devices for surgical applications in the orthopedic and ENT fields. On February 3, 2014, the company entered into a $48.25 cash per share merger with UK-based competitor Smith & Nephew plc, valuing the company at $1.5 billion. In addition to the merger consideration, shareholders will likely receive a pro-rata share of the proceeds from a Class Action settlement with Smith & Nephew totaling up to $12 million. The deal has been cleared by antitrust authorities in the U.S. and Germany and is currently being reviewed in the UK. ArthroCare shareholders will vote on the transaction in May and closing is expected by mid-2014.

From Mario Gabelli (Trades, Portfolio)'s first quarter 2014 ABC Fund commentary.

About the author:

Holly LaFon
I'm a financial journalist with a Master of Science in journalism from Medill at Northwestern University.

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