1250 ET - Zimmer Biomet Holdings' deal for Paragon 28 comes with little integration risk and could accelerate growth, says Jefferies in a research note. The medical technology company agreed to acquire all outstanding shares of Paragon, a medical-device maker that focuses exclusively on the foot and ankle orthopedic segment, for $13 a share. "We are fans of the deal and view this as good portfolio management and a reasonable price," says Taylor. Shares of Paragon rise 8.5% to $13.03, while Zimmer ticks down 0.6% to $111.15. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
January 29, 2025 12:50 ET (17:50 GMT)
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