WASHINGTON (dpa-AFX) - Cyberonics Inc (CYBX) on Tuesday said its stockholders approved its merger with Sorin S.p.A.
At a special meeting of Cyberonics stockholders, more than 98.8 percent of votes cast were in favor of the transaction, representing more than 84.2 percent of all outstanding shares of Cyberonics.
In February, Sorin and Cyberonics announced that the boards of both companies unanimously approved a combination of the companies under a newly formed holding company organized under the laws of England and Wales, LivaNova PLC. The transaction was overwhelmingly approved by Sorin shareholders in May.
The ransaction will create a new premier global medical technology company. tLivaNova will have a strategic presence in over 100 countries on five continents around the world, with approximately 4,500 employees. The transaction is expected to close in the fourth calendar quarter of 2015.
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