Entellus Medical to be acquired by Stryker for $24 a share in cash

Entellus Medical Inc. said Thursday it has reached a deal to be acquired by Stryker Corp. for $24 a share in cash, in a deal with an equity value of about $662 million. Entellus is a leader in technology for ear, nose and throat ailments, including sinusitis, nasal airway obstruction and Eustachian tube dysfunction. The company's board has approved the deal, which must now be approved by shareholders. Entellus stock was halted for the news premarket, but has fallen 16% in 2017, while the S&P 500 has gained 17%.

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