Steris To Buy Synergy Health For $1.9 Billion

U.S. infection-prevention company Steris Corp. said on Monday it is buying U.K. rival Synergy Health PLC for $1.9 billion in cash and stock. Synergy's board recommends the deal, which is worth �19.50 ($31.35) a share, based on Steris' closing share price of $56.38 per share on Oct. 10. After the transaction closes, Synergy shareholders will receive �4.39 in cash and 0.4308 of a share of the new Steris company, representing a 39% premium over Synergy's closing price on Friday. The transaction is expected to close by March 31, 2015. Synergy shares surged 30% in Monday's trade.