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Siemens Medical Solutions Commences Cash Tender Offer For CTI Molecular Imaging, Inc. (CTMI)


10/19/2005 5:13:11 PM

HOFFMAN ESTATES, Ill., & KNOXVILLE, Tenn.--(BUSINESS WIRE)--April 1, 2005--Siemens Medical Solutions USA, Inc., a wholly owned subsidiary of Siemens AG (NYSE:SI), and CTI Molecular Imaging, Inc. (Nasdaq:CTMI) announced today that Siemens Medical Solutions, through its wholly owned subsidiary MI Merger Co., has commenced a previously announced tender offer for all of the outstanding shares of common stock of CTI Molecular Imaging, Inc. for $20.50 per share, net to the seller in cash. The tender offer is being made pursuant to an Agreement and Plan of Merger, dated as of March 18, 2005 among Siemens Medical Solutions USA, Inc., MI Merger Co. and CTI Molecular Imaging, Inc. The tender offer remains open until 12:00 a.m. (midnight) in New York City (Eastern Time Zone), on Thursday, April 28, 2005, unless extended. Following completion of the tender offer, any remaining shares of CTI Molecular Imaging, Inc. will be acquired in a merger at the same price.

Read at BioSpace.com

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