Stryker To Acquire Orthovita For $316 million

Orthovita Inc VITA agreed to be purchased by Stryker Corp SYK in a deal valued at $316 million. The purchase price of $3.85 per share in cash represents a 41% premium over VITA's closing price of $2.73 per share on Friday. VITA shares fell 1.09% to close at $2.73 on Friday, while SYK shares gained 0.19% to close at $63.28 on Friday.