Medical device maker Stryker to buy Wright Medical for $4 billion
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(Reuters) - Medical device maker Stryker Corp said on Monday it would buy smaller rival Wright Medical Group for about $4 billion (£3.1 billion) in cash, to strengthen its upper-body joint implants business.The deal for $30.75 per share of Wright represents a premium of 39.7% to the company's close on Friday.Shares of Wright Medical rose 31% to $28.85 in premarket trading.Including debt, the deal values Wright at about $5.4 billion and is expected to close in the second half of 2020.Wright..