NuVasive (NUVA) & Globus Medical (GMED) M&A Case

• #NuVasive's BoD unanimously approved the M&A deal with #GlobusMedical.

• $NUVA #shareholders will receive 0.75 of $GMED A stock.

• #Investors suspect that the pricing terms of the $NUVA & GMED #M&A deal are unfair.

On February 9, 2023, NuVasive (NASDAQ: NUVA), the leader in spine technology innovation, and Globus Medical (NYSE: GMED), a leading musculoskeletal solutions company, announced they have entered into a definitive agreement to combine in an all-stock transaction.

Under the terms of the agreement, which was unanimously approved by the boards of directors of both companies, NuVasive (NUVA) shareholders will receive 0.75 of a share of Globus Medical Class A common stock for each share of NuVasive common stock owned at the closing of the transaction.

Based on this exchange ratio, the implied share price for NuVasive (NUVA) would be $57.72, an equity value of $3.1 billion, based on Globus Medical's closing share price on February 8. Following the close of the transaction, NuVasive shareholders will own approximately 28% of the combined company, and Globus Medical shareholders will own approximately 72%, on a fully diluted basis.

Investors may have reasons to suspect that the pricing terms of the M&A transaction are unfair and that the Company BoD breached fiduciary duties to shareholders.