Exactech Inc. shares were halted in premarket trade Monday on news that the company will be acquired by private equity investment firm TPG Capital in a deal valued at $625 million. TPG Capital will acquire outstanding shares of Exactech stock for $42 per share in cash, above Exactech’s $32 per share price as of Friday’s close. Certain management shareholders’ shares will be exchanged for new equity securities, Exactech said. When the transaction closes, which is expected in the first quarter of next year, Exactech — which makes orthopedic implant devices and surgical instruments — will be privately-held and based in Gainesville, Florida. Exactech shares have surged 4.9% over the last three months, compared with a 4.2% rise in the S&P 500 .
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