Covidien buying Israel's Given

Investor's Business Daily

Given Imaging (GIVN) shares rocketed 27.1% to 30.06 Mon. after medical device maker Covidien (COV) said Sun. it would buy the maker of a proprietary camera to examine the intestines for $860 mil, or $30 a share. It's Covidien's 3rd acquisition in just over 2 years and gives it stronger presence in the market for treating gastrointestinal, or GI, ailments. Investors seemed to approve and Covidien shares also rose, less than 1%. Ireland-based Covidien was trading near its all-time high 68.78 set on Nov. 29.

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