Circon%20(A)%20Case

1
Circon (A) Case

• April 20, 2006

2
Circons Performance

• Offer by U.S. Surgical first made August 2, 1996
  for 18/share when share price was around 12-1/8
• Offer lowered to 17 on December 14, 1996
• Offer limited to 14.9 of shares at 14.50 on
  June 16, 1997
• Offer to buy remainder at 16.50 until offer
  dropped on September 15, 1998

3
Board meeting October 16, 1998

• Auhll agreed to resign
• Shares fell to 8.25
• Cloutier named interim CEO assigned goal to
  engineer sale of company
• Circon sold in November 1998 to Maxxim Medical
  for 15/share