Avanos Medical Shareholders Overwhelmingly Approve $25/Share Buyout, Closing by July 27
AVNS has more than doubled off its 52-week low of $9.303.
Summary
Avanos Medical stockholders voted 99.75% in favor of the $25.00 per share cash acquisition by American Industrial Partners, with 74.96% of outstanding shares represented. The deal, valued at approximately $1.27 billion, has cleared all regulatory hurdles and is expected to close by July 27, 2026. This follows the definitive merger agreement announced in May and the recent shareholder lawsuits that sought to block the transaction. The overwhelming approval and near-term closing remove the last uncertainties, locking in the $25.00 cash payout for shareholders.
At the time of this announcement, AVNS was trading at $24.98 on NYSE in the Life Sciences sector, with a market capitalization of approximately $1.2B. The 52-week trading range was $9.30 to $25.49. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.