Kyphon Announces that ISS Recommends Kyphon Stockholders Vote 'For' the Merger of Medtronic and Kyphon
September 20 2007 - 4:15PM
PR Newswire (US)
SUNNYVALE, Calif., Sept. 20 /PRNewswire-FirstCall/ -- Kyphon Inc.
(NASDAQ:KYPH) announced today that Institutional Shareholder
Services (ISS), a leading independent proxy advisory firm,
recommends that Kyphon stockholders vote "FOR" adoption of the
merger agreement between Kyphon and Medtronic, Inc. at the special
meeting of Kyphon's stockholders to be held on October 16, 2007. In
recommending that Kyphon stockholders vote "FOR" the proposed
acquisition, ISS stated: "Based on our review of the terms of the
transaction and the factors described ... specifically the market
premium, we believe that the merger agreement warrants shareholder
support." ISS also recommends that Kyphon stockholders vote "FOR"
the Company's proposal to adjourn the special meeting of
stockholders if there are not sufficient votes to approve the
proposed merger, in order to provide additional time to solicit
proxies. Shareholders who have questions or need any assistance in
submitting their proxy or voting their shares should contact
Kyphon's proxy solicitor, Georgeson, toll-free at 1-888-605-8317.
About Kyphon Inc. Kyphon develops and markets medical devices
designed to restore and preserve spinal function and diagnose the
source of low back pain using minimally invasive technologies. The
company's products are used in balloon kyphoplasty for the
treatment of spinal compression fractures caused by osteoporosis or
cancer, in the Functional Anaesthetic Discography(TM) (F.A.D.(TM))
procedure for diagnosing the source of low back pain, and in the
Interspinous Process Decompression (IPD(R)) procedure for treating
the symptoms of lumbar spinal stenosis. More information about the
company and its products can be found at http://www.kyphon.com/ and
its balloon kyphoplasty patient education Web site,
http://www.spinalfracture.com/. Kyphon and IPD are registered
trademarks, and Functional Anaesthetic Discography and F.A.D. are
trademarks, of Kyphon Inc. KYPHG DATASOURCE: Kyphon Inc. CONTACT:
Investors and Media, Julie D. Tracy, Vice President, Chief
Communications Officer of Kyphon Inc., +1-408-548-6687, Web site:
http://www.kyphon.com/ http://www.spinalfracture.com/
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