Beckman Coulter Extends Cash Tender Offer to Conform to Expected Termination Date of Its Revised Merger Agreement With Biosite
May 16 2007 - 12:30AM
PR Newswire (US)
FULLERTON, Calif., May 15 /PRNewswire-FirstCall/ -- Beckman
Coulter, Inc. (NYSE:BEC), today announced that its wholly-owned
subsidiary, Louisiana Acquisition Sub, Inc., is extending its
previously announced tender offer for all outstanding shares of
common stock (the "Shares") of Biosite Incorporated (NASDAQ:BSTE)
at a price of $90.00 per Share, payable in cash. This extension
conforms the expiration of the tender offer to the time at which
Biosite is expected to terminate Beckman Coulter's revised merger
agreement, dated May 1, 2007. This extension is a technical matter
and in no way changes the intent of Beckman Coulter that its $90.00
per Share offer is its best and final offer. (Logo:
http://www.newscom.com/cgi-bin/prnh/20031202/BECLOGO ) This
extension changes the expiration of the tender offer from the end
of the day at 12:00 midnight, New York City Time, on Tuesday, May
15, 2007, to the end of the day at 12:00 midnight, New York City
Time, on Friday, May 18, 2007. As of 5 p.m., New York City time, on
May 15, 2007, approximately 299,000 Shares have been tendered and
not withdrawn. About Beckman Coulter Beckman Coulter, Inc., based
in Fullerton, California, develops, manufactures and markets
products that simplify, automate and innovate complex biomedical
tests. More than 200,000 Beckman Coulter systems operate in
laboratories around the world supplying critical information for
improving patient health and reducing the cost of care. Recurring
revenue, consisting of supplies, test kits, service and
operating-type lease payments, represents more than 75 percent of
the company's 2006 annual sales of $2.53 billion. For more
information, visit http://www.beckmancoulter.com/. Forward Looking
Statements This press release contains forward-looking statements,
including statements regarding the anticipated closing of Beckman's
tender offer. These statements are based on current expectations,
forecasts and assumptions. Actual results could differ materially
from those anticipated by these forward-looking statements as a
result of a number of factors, some of which may be beyond Beckman
Coulter's control. Among other things, these factors include the
risk that the acquisition will not be completed because the tender
offer did not proceed as anticipated or closing conditions to the
acquisition were not satisfied. For a further list and description
of risks and uncertainties associated with Beckman Coulter's and
Biosite's businesses, see their reports filed with the Securities
and Exchange Commission, including each company's "Risk Factors"
section in its most recent annual report on Form 10-K filed with
the Securities and Exchange Commission. Beckman Coulter disclaims
any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law. Additional Information and
Where to Find It This announcement is neither an offer to purchase
nor a solicitation of an offer to sell shares of Biosite.
Stockholders of Biosite are urged to read the tender offer
materials described below because they contain important
information that stockholders should consider before making any
decision regarding tendering their shares. The tender offer is
being made pursuant to a Tender Offer Statement on Schedule TO
(including the Offer to Purchase, the related Letter of Transmittal
and other tender offer materials) filed by Beckman and Louisiana
Acquisition Sub with the SEC on April 2, 2007, as amended. In
addition, on April 2, 2007, Biosite filed a
Solicitation/Recommendation Statement on Schedule 14D-9 with the
SEC related to the tender offer. The tender offer materials contain
important information, which should be read carefully before any
decision is made with respect to the tender offer. The Offer to
Purchase, the related Letter of Transmittal and certain other offer
documents, as well as the Solicitation/Recommendation Statement,
are available free of charge on the SEC's website
(http://www.sec.gov/) or from D.F. King & Co., Inc., the
information agent for the tender offer, at (800) 769-4414 (toll
free). American Stock Transfer & Trust Company is acting as
depositary for the tender offer. The dealer manager for the offer
is Morgan Stanley. In addition to the Offer to Purchase, the
related Letter of Transmittal and certain other offer documents, as
well as the Solicitation/Recommendation Statement, Beckman Coulter
and Biosite file annual, quarterly and special reports, proxy
statements and other information with the SEC. You may read and
copy any reports, statements or other information filed by Beckman
Coulter and Biosite at the SEC public reference room at 100 F
Street, N.E., Washington, D.C. 20549. Please call the SEC at
1-800-SEC-0330 for further information on the public reference
room. Beckman Coulter's and Biosite's filings with the SEC are also
available to the public from commercial document-retrieval services
and the SEC's website. Contact: Robert Raynor (714) 773-7620
Director, Investor Relations
http://www.newscom.com/cgi-bin/prnh/20031202/BECLOGO
http://photoarchive.ap.org/ DATASOURCE: Beckman Coulter, Inc.
CONTACT: Robert Raynor, Director, Investor Relations of Beckman
Coulter, Inc., +1-714-773-7620 Web site:
http://www.beckmancoulter.com/
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