UPDATE: Stryker Corporation Announced Tender Offer For All Outstanding Shares Of Common Stock Of Orthovita For $3.85 Per Share

Stryker Corporation SYK and Orthovita, VITA announced today that Stryker's indirect wholly owned subsidiary, Owl Acquisition Corporation, has commenced the previously announced tender offer for all outstanding shares of common stock of Orthovita for $3.85 per share, net to the seller in cash, without interest and less any required withholding taxes. On May 16, 2011, Stryker and Orthovita announced that Stryker and Orthovita had signed a definitive merger agreement pursuant to which the tender offer would be made. Orthovita's Board of Directors approved the terms of the merger agreement, including the tender offer.