10/19/2005 5:13:14 PM
CAMARILLO, Calif.--(BUSINESS WIRE)--April 7, 2005--BioSource International, Inc. (NASDAQ:BIOI) today announced it has received an unsolicited proposal from Bio-Rad Laboratories, Inc. (AMEX:BIO)(AMEX:BIOB) to acquire the Company. In a letter from Bio-Rad sent to BioSource's Chairman on April 6, 2005, Bio-Rad expressed an interest in acquiring all of BioSource's outstanding shares at $8.50 per share in cash. Bio-Rad's unsolicited proposal is subject to certain conditions, including the completion of due diligence and the execution of a mutually acceptable merger agreement. Bio-Rad also provided the Company with notice of its intention to nominate six directors for election to the BioSource Board of Directors at the Company's 2005 annual meeting, which is scheduled to be held on May 24, 2005.
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