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TSO3 gets final court approval to be acquired by Stryker for US$51.7M

TSO3 Inc. said the Superior Court of Quebec issued a final order approving a plan of arrangement under which Stryker Corp. will acquire the company for US$51.7 million.

Under the deal, a unit of Kalamazoo, Mich.-based medical-device maker Stryker will acquire all issued and outstanding shares of TSO3 for 43 Canadian cents apiece. The plan of arrangement was previously approved by TSO3's shareholders.

TSO3 expects the deal to be completed on or about Oct. 1, subject to certain closing conditions.

Quebec City-based TSO3 produces sterilization processes and related supplies for medical devices.