This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Hologic to Buy Cytyc for $6.2 Billion

Hologic (HOLX) is acquiring Cytyc (CYTC) in a $6.2 billion cash-and-stock deal.

The two companies, which specialize in health care products for women, announced the transaction Sunday in a joint press release.

Bedford, Mass.-based Hologic will exchange 0.52 shares of its common stock and $16.50 in cash for each share of Cytyc common stock. Based on Hologic's Friday closing price of $57.61, that represents a payment of $46.46 for each Cytyc share and a 32% premium to Cytyc's Friday closing level of $35.05.

Hologic predicts that the acquisition will add more than 10 cents to its adjusted earnings per share in the first year after its close and will be "significantly more accretive" thereafter.

Upon the deal's completion, Hologic shareholders would own approximately 45 percent of the combined company, and Cytyc shareholders would own approximately 55 percent.

Boards of both companies have approved the transaction, which is expected to be completed in the third quarter of this year.

Under the terms of the deal, Cytyc will become a wholly owned subsidiary of Hologic. Hologic will maintain its headquarters in Bedford and Cytyc's offices in Marlborough, Mass., where the latter company is currently headquartered.

According to the press release, the combined company will have direct operations in over 20 countries with more than 3,300 employees, including 1,200 sales and service professionals.

Hologic makes diagnostic and medical imaging systems for women. Cytyc makes diagnostic and surgical products covering a range of cancer and women's health applications including cervical cancer screening and radiation treatment of early-stage breast cancer.

The companies plan to hold a conference call at 8:30 a.m. EDT Monday to discuss the deal.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs