Mindray Announces Completion of Going Private Transaction

SHENZHEN, China, March 3, 2016 /PRNewswire/ -- Mindray Medical International Limited ("Mindray" or the "Company", NYSE: MR), a leading developer, manufacturer and marketer of medical devices worldwide, today announced the completion of its merger (the "merger") with Solid Union Limited ("Merger Sub"), a wholly-owned subsidiary of Excelsior Union Limited ("Parent"), pursuant to the previously announced agreement and plan of merger (the "Merger Agreement") dated as of November 4, 2015 and amended on December 20, 2015, among the Company, Parent and Merger Sub. As a result of the merger, the Company has ceased to be a publicly traded company and became a wholly owned subsidiary of Parent. document.addEventListener("googletagEvent", function() { googletag.cmd.push(function() { googletag.display('ad-slot_1__mobile'); }); });  

Under the terms of the Merger Agreement, which was approved by the Company's shareholders at an extraordinary general meeting held on February 26, 2016, each of the Company's ordinary shares, consisting of Class A ordinary shares and Class B ordinary shares, par value HK$0.001 per share (each, a "Share"), issued and outstanding immediately prior to the effective time of the merger, has been cancelled in exchange for the right to receive US$28.0 in cash per Share without interest and net of any applicable withholding taxes, other than (x) Shares beneficially owned by certain rollover shareholders (the "Rollover Shares"), (y) Shares owned by shareholders who have validly exercised and have not effectively withdrawn or lost their dissenter rights under the Cayman Islands Companies Law (the "CICL") (the "Dissenting Shares"), and (z) Shares represented by American depositary shares, each representing one Share (the "ADSs"). Each ADS issued and outstanding immediately prior to the effective time of the merger (other than ADSs representing the Rollover Shares) has been cancelled in exchange for the right to receive US$28.0 in cash per ADS without interest and net of any applicable withholding taxes (less US$0.05 per ADS cancellations fees). The Rollover Shares have been cancelled for no consideration, and the Dissenting Shares have been cancelled for payment of their fair value to be determined in accordance with the CICL.

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