SenoRx Completes Sale to C. R. Bard
July 06 2010 - 9:15AM
SenoRx, Inc. (Nasdaq:SENO) today announced that the acquisition of
the company by C. R. Bard, Inc. (NYSE:BCR) was completed today.
Under the terms of the merger agreement, SenoRx stockholders will
receive $11 in cash for each share held of SenoRx common stock, a
premium of approximately 14 percent over the closing price of
SenoRx shares on May 4, 2010, the last trading day before the
public announcement of the acquisition, and a premium of
approximately 41 percent over the average closing price of SenoRx
shares during the 90 trading days ended May 4, 2010. With the
closing of the transaction, trading in SenoRx common shares was
suspended before market open this morning. SenoRx common
shares will cease to trade on NASDAQ at market close today and will
be delisted.
"We are pleased to announce the closing of this transaction,"
said John T. Buhler, SenoRx President and Chief Executive
Officer. "We believe the merger represents a great
opportunity for the combined companies to create product leadership
by offering a broader range of high-quality breast care products to
our customers."
Piper Jaffray & Co. served as exclusive financial advisor to
SenoRx and provided a fairness opinion to the Company's Board of
Directors. Wilson Sonsini Goodrich & Rosati, P.C. served
as counsel to SenoRx.
About SenoRx
SenoRx (Nasdaq:SENO) develops, manufactures and sells minimally
invasive medical devices used by breast care specialists for the
diagnosis and treatment of breast cancer, including its EnCor®
vacuum-assisted breast biopsy system and Contura® MLB catheter for
delivering radiation to the tissue surrounding the lumpectomy
cavity following surgery for breast cancer. SenoRx's field
sales organization serves over 2,000 breast diagnostic and
treatment centers in the United States. In addition, SenoRx
sells several of its products through distribution partners in more
than 30 countries outside the U.S. The company's line of breast
care products includes biopsy disposables, biopsy capital
equipment, diagnostic adjunct products and therapeutic disposables.
SenoRx is developing additional minimally invasive products for the
diagnosis and treatment of breast cancer. For more
information, visit the company's website at
www.senorx.com.
The SenoRx, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=3605
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934.
These forward-looking statements involve certain risks and
uncertainties that could cause actual results to differ materially
from those indicated in such forward-looking statements, including,
but not limited to, the ability of C. R. Bard to successfully
integrate SenoRx's operations and employees, the ability to yield
benefits for customers and employees, and such other risks as
identified in SenoRx's most recent Annual Report on Form 10-K
and subsequent Quarterly Reports on Form 10-Q, each as filed with
the SEC, which contain and identify important factors that could
cause the actual results to differ materially from those contained
in the forward-looking statements. SenoRx assumes no obligation to
update any forward-looking statement contained in this press
release.
CONTACT: SenoRx, Inc.
Lila Churney, Director of Investor Relations
949.362.4800 ext.132
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