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Ev3 agrees to buy Chestnut Medical for up to $150 million

AP/CNBC, June 9, 2009
Medical device company ev3 Inc. announced it agreed to buy technology company Chestnut Medical Technologies Inc. for up to $150 million in cash and stock. Ev3 will pay $75 million upfront for Chestnut, with 30% to 40% of that total being paid in stock. It expects the deal for the privately held company to close within 45 days.