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Sullivan & Cromwell Advises Stryker on $764 Million China Acquisition
The Asian Lawyer
Sullivan & Cromwell is advising U.S. medical device maker Stryker Corp. on its proposed $764 million acquisition of Trauson Holdings Co. Ltd., a Chinese manufacturer of orthopedic products.
In a statement, Stryker said it made the all-cash offer for Trauson, a leading maker of trauma and spinal orthopedic implants, in order to bolster its presence in China and capture a piece of the countrys growing low-cost orthopedics market.
Luna Group Holdings Ltd., Trausons majority shareholder, has tendered its entire 61.7 percent stake in the company as a first step in Strykers plan to purchase all Trauson shares. The deal is expected to close in the second quarter.
Stryker is being advised by Sullivan & Cromwell Hong Kong partners Kay Ian Ng and Michael DeSombre and Beijing partners Gwen Wong and Garth Bray.
Ashurst Hong Kong partners Lina Lee and Robert Ogilvy Watson are representing Trauson.