Milan's Sorin says 2.4 bn euro merger with Cyberonics

(ANSA) - Milan, February 26 - Sorin Group SpA, a Milan based leader in medical technologies, said Thursday it would merge with Cyberonics Inc. of the United States in a 2.4-billion euro deal to create a new entity in the field of devices and treatments for health conditions. The new operation is to be based in London, the companies said, where the tax rates is lower. Sorin shares jumped by 22.13% in trading Thursday morning on the Milan stock exchange, trading at 2.68 euros.