Syneron Medical Ltd. Stock Rises After Nearly $400 Mln Acquisition Of Outstanding Shares

By Emma Court Markets MarketWatch Pulse

Syneron Medical Ltd. shares surged 4.7% in premarket trade Monday after the company announced that funds advised by private equity firm Apax Partners have agreed to acquire outstanding shares for $11 per share, with the deal valued at nearly $400 million total. Shares of Syneron, which makes aesthetic medical products for use by physicians and consumers at home, were valued at $10.55 as of Friday's close. Apax Partners co-head Steven Dyson said the firm sees the medical aesthetics business as "a highly attractive investment area given its long-term growth prospects" and said Syneron was "well positioned" for this opportunity. Syneron shares have risen 23.4% over the last three months, compared with a 4.7% rise in the S&P 500 .

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