Straumann walks away from Sfr243m treasury share sale
Straumann Holding, the Swiss maker of dental implants, abandoned a selldown of treasury shares on Thursday night after investors demanded a bigger discount than the company was willing to offer.
Launched after the market close, the block trade, for 400,000 treasury shares, or 2.6% of the company, was worth Sfr243m based on the Sfr608.5 closing price of Straumann on the day.
UBS was sole bookrunner.
The deal was covered, but Straumann pulled the sale after institutional investors
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