Boston Scientific Announces Completion of Tender Offer for Rubicon Medical Corporation
June 02 2005 - 6:00PM
PR Newswire (US)
Boston Scientific Announces Completion of Tender Offer for Rubicon
Medical Corporation NATICK, Mass., June 2 /PRNewswire-FirstCall/ --
Boston Scientific Corporation (NYSE:BSX) today announced the
completion of the cash tender offer for any and all outstanding
shares of common stock of Rubicon Medical Corporation (OTC:RMDC)
(BULLETIN BOARD: RMDC) . The tender offer, which commenced on May
3, 2005, expired at 12:00 midnight (ET), on Wednesday, June 1,
2005. Based on preliminary information provided by The Bank of New
York, the depositary for the offer, 30,832,649 shares of Rubicon's
common stock were tendered into the offer, which, when combined
with the Rubicon stock already owned by Boston Scientific,
represents approximately 96 percent of Rubicon's outstanding common
stock on a fully diluted basis. Nemo I Acquisition, Inc., the
wholly-owned subsidiary of Boston Scientific through which the
tender offer was made, has accepted for payment all validly
tendered shares and will make prompt payment for the accepted
shares. Boston Scientific intends to acquire the remaining shares
of Rubicon common stock in a merger in which all remaining Rubicon
stockholders who did not tender their shares in the tender offer
will receive the same consideration as those who tendered, namely
$1.50 per share in cash, without interest, together with the right
to receive additional payments in the aggregate amount of up to
$1.44 per share in cash, without interest, if certain milestones
are achieved relating to Rubicon's embolic protection filter device
and similar products. Because Boston Scientific has acquired more
than 90 percent of the outstanding Rubicon shares, a stockholder
vote is not required to approve the merger. Boston Scientific
intends to complete the merger in the next several days. Boston
Scientific will promptly mail to stockholders who did not tender
their shares relevant information on how to receive payment. About
Boston Scientific Boston Scientific is a worldwide developer,
manufacturer and marketer of medical devices whose products are
used in a broad range of interventional medical specialties. For
more information, please visit: http://www.bostonscientific.com/.
About Rubicon Medical Rubicon Medical Corporation
(http://www.rubiconmed.com/) is a Salt Lake City-based developer
and manufacturer of interventional vascular medical devices and
products. CONTACT: Milan Kofol 508-650-8569 Investor Relations
Boston Scientific Corporation Paul Donovan 508-650-8541 Media
Relations Boston Scientific Corporation DATASOURCE: Boston
Scientific CONTACT: Milan Kofol, Investor Relations,
+1-508-650-8569, or Paul Donovan, Media Relations, +1-508-650-8541,
both of Boston Scientific Corporation Web site:
http://www.bostonscientific.com/ http://www.rubiconmed.com/
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