A Medical Device Daily
CardioDynamics (San Diego) reported that independent proxy advisory firms RiskMetrics Group, Inc. and Glass Lewis & Co. have recommended that CardioDynamics shareholders vote "for" approval of the proposed merger with a subsidiary of SonoSite (Bothell, Washington) which will be considered at the August 11, 2009 special meeting of CardioDynamics shareholders. Shareholders of record as of the close of business on June 30, 2009 will be entitled to vote at the meeting. As previously reported under the terms of the merger agreement, SonoSite will acquire all of the outstanding shares of CardioDynamics common stock for $1.35 per share in cash.
This is a premium of 69% over the closing share price on June 8, 2009, the day before the merger agreement was reported (Medical Device Daily, June 11, 2009).
CardioDynamics' board has recommended that shareholders vote in favor of the merger by completing and returning their proxy card.