Cytyc

Medical testing equipment maker Hologic said it will acquire competitor Cytyc in a cash-and-stock deal worth $6.2 billion, Hologic announced on Sunday afternoon. Under terms of the agreement, Cytyc [CYTC Unavailable () ] shareholders will receive $16.50 in cash and 0.52 shares of Hologic [HOLX 17.11 -0.47 (-2.67%) ] stock for every share they own. Cytycs payout is a 33% premium to its closing price of $35.05 on Friday. The cash portion of the deal will be funded by Goldman Sachs [GS 109.43 -2.10 (-1.88%) ], Hologic said. Both Hologic and Cytyc provide some of the most advanced technology addressing womens health needs, said Hologic CEO Jack Cumming, in a prepared statement. By combining our companies complementary, best-in-class products and technologies, we expect to drive enhanced growth and value creation. Cumming will serve as the new companys chief executive and Cytyc CEO Patrick Sullivan will stay on as chairman. The company said the acquis...