Beckman Coulter Proposed Acquisition of Biosite Passes Milestone With U.S. Regulatory Approval
17 Abril 2007 - 6:00AM
PR Newswire (US)
FULLERTON, Calif., April 17 /PRNewswire-FirstCall/ -- Beckman
Coulter, Inc. (NYSE:BEC), a leading developer, manufacturer, and
marketer of products that simplify, automate, and innovate complex
biomedical testing, today announced that the mandatory waiting
period associated with its proposed acquisition of Biosite(R)
Incorporated (NASDAQ:BSTE) under the Hart-Scott-Rodino Antitrust
Improvement Act of 1976, as amended, has expired. The U.S. Federal
Trade Commission did not request any additional information or
documentary material. (Logo:
http://www.newscom.com/cgi-bin/prnh/20031202/BECLOGO ) Scott
Garret, Beckman Coulter President and Chief Executive Officer,
said, "We are pleased to have achieved this significant milestone
toward the completion of our acquisition of Biosite. Expiration of
the waiting period without a second request for information further
demonstrates the certainty of Beckman Coulter's transaction with
Biosite, and we remain on schedule to close the transaction by
early May. We continue to be very enthusiastic about the prospects
for developing Biosite and Beckman Coulter as a combined business."
As announced on April 2, 2007, Louisiana Acquisition Sub, Inc., a
wholly-owned subsidiary of Beckman Coulter, has commenced a tender
offer for all outstanding shares of Biosite at a price of $85.00
per share in cash. The offer price represents an approximately
53.5% premium over Biosite's closing stock price of $55.38 on March
23, 2007, the last trading day before the announcement of Beckman
Coulter's intention to make the offer pursuant to a definitive
merger agreement between Beckman Coulter and Biosite. The Beckman
Coulter tender offer is not subject to any financing conditions and
is scheduled to be completed at 12:00 midnight, New York City time,
on Friday, April 27, 2007 (the end of the day on Friday). 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 revenues consisting
of supplies, test kits, service and operating-type lease payments
represent more than 75 percent of the company's 2006 annual sales
of $2.5 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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