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PRINCETON, N.J., Sep 29, 2020 (GLOBE NEWSWIRE via COMTEX) —
PRINCETON, N.J., Sept. 29, 2020 (GLOBE NEWSWIRE) — Integra LifeSciences Holdings Corporation (NASDAQ:IART), a leading global medical technology company, today announced it has entered into a definitive agreement to sell its Extremity Orthopedics business to Smith+Nephew (LSE:SN, NYSE:SNN) for $240 million in cash. The transaction is expected to close at or around the end of 2020, subject to the satisfaction of customary conditions including regulatory approvals and consultation with employee representative bodies.

“Smith+Nephew’s strong focus in orthopedics will enable the business to expand its reach and scale, while allowing the team to thrive in a new environment,” said Peter Arduini, president and CEO, Integra LifeSciences. “This divestiture will increase our focus on Integra’s portfolio of market-leading products in neurosurgery, surgical instrumentation and regenerative medicine and move us

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R.R. Donnelley & Sons Company (NYSE:RRD) (“RRD” or the “Company”), a leading global provider of marketing and business communications, today announced that it has signed a definitive agreement to sell its DLS Worldwide Logistics business to TFI International (TFI) (NYSE and TSX: TFII) for $225 million in cash, subject to a customary working capital adjustment. The agreement stipulates 10 percent of the purchase price will be held in escrow while the remainder will be paid at closing. The transaction does not include RRD’s International Mail and Parcel Logistics business and is expected to close within the next 60 days pending regulatory approvals and other customary closing conditions.

Dan Knotts, RRD’s President and Chief Executive Officer stated, “The sale of our DLS Worldwide business further demonstrates our strategic focus and ongoing commitment to optimize our business portfolio, reduce

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MassMutual announced on Tuesday that its retirement plan business is being acquired by Colorado-based Empower Retirement.

Based on the terms of the definitive agreement and subject to regulatory approvals, Empower will acquire the retirement plan business of MassMutual in a reinsurance transaction for a ceding commission of $2.35 billion. In addition, the balance sheet of the transferred business would be supported by $1 billion of required capital when combined with Empower’s existing U.S. business.

In a joint statement the companies said the acquisition will capitalize on both firms’ expertise, provide technological excellence and deep product capabilities, and create scale to the benefit of retirement plan participants and their employers.

“In Empower, we are pleased to have found a strong, long-term home for MassMutual’s retirement plan business, and believe this transaction will greatly benefit our policy owners and customers as we invest in our future growth and accelerate progress on our

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