BioSpace Collaborative

Academic/Biomedical Research
News & Jobs
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  C2C Services & Suppliers™
Europe
Asia

DIVERSITY

PROFILES
Company Profiles

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Research Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
Get Our Industry eNewsletter FREE email:    
   

GE Healthcare Extends Tender Offer for Clarient, Inc.


12/6/2010 8:56:49 AM

CHALFONT ST. GILES, England, Dec. 3, 2010 /PRNewswire/ -- GE Healthcare, a unit of General Electric Company (NYSE: GE), announced today that it is extending its previously announced tender offer for all of the outstanding capital stock of Clarient, Inc. (Nasdaq: CLRT) until 12:00 midnight, New York City time, on Thursday, December 16, 2010.

The tender offer has been extended to allow investors to consider revised disclosures in an amendment to Clarient's Solicitation/Recommendation Statement on Schedule 14D-9 made pursuant to a Memorandum of Understanding entered into on behalf of Clarient, General Electric and Crane Merger Sub, Inc., an indirect, wholly-owned subsidiary of General Electric, outlining the terms of the parties' agreement in principle to settle the actions pending in the Delaware Court of Chancery captioned In re Clarient, Inc. Shareholder Litigation, C.A. No. 5932-CC and the Superior Court of California, County of Orange captioned Herbert Silverberg v. Clarient, Inc., Master File No. 30-2010-00419685-CU-MC-CXC. The terms of the proposed settlement are subject to approval by the Delaware Court of Chancery.

As announced previously, on November 5, 2010, GE Healthcare, through Crane Merger Sub, commenced a tender offer for all of the outstanding shares of common and preferred stock of Clarient at $5.00 in cash per common share and $20.00 in cash per preferred share, in each case without interest and less any required withholding taxes. The tender offer was previously scheduled to expire at 12:00 midnight, New York City time, on Monday, December 6, 2010. All other terms and conditions of the tender offer remain unchanged.

As of 5:00 p.m. on December 2, 2010, approximately 42,348,047 common shares of Clarient and 5,263,158 preferred shares of Clarient (which were automatically converted into common shares after the date of tender in accordance with their terms) had been tendered and not withdrawn pursuant to the tender offer, representing approximately 47.7% of the outstanding common shares of Clarient, 100% of the previously outstanding preferred shares of Clarient and approximately 57.77% of the outstanding common and preferred shares of Clarient on an as converted basis.

ABOUT GE HEALTHCARE:

GE Healthcare provides transformational medical technologies and services that are shaping a new age of patient care. Our broad expertise in medical imaging and information technologies, medical diagnostics, patient monitoring systems, drug discovery, biopharmaceutical manufacturing technologies, performance improvement and performance solutions services help our customers to deliver better care to more people around the world at a lower cost. In addition, we partner with healthcare leaders, striving to leverage the global policy change necessary to implement a successful shift to sustainable healthcare systems.

Our "healthymagination" vision for the future invites the world to join us on our journey as we continuously develop innovations focused on reducing costs, increasing access and improving quality around the world. Headquartered in the United Kingdom, GE Healthcare is a unit of General Electric Company (NYSE: GE). Worldwide, GE Healthcare employees are committed to serving healthcare professionals and their patients in more than 100 countries. For more information about GE Healthcare, visit our website at www.gehealthcare.com.

For our latest news, please visit http://newsroom.gehealthcare.com.

Media Contact for GE Healthcare:

Dr. Val Jones

+44 7917 175 192

val.jones@ge.com


Investor Contact for Clarient:

Matt Clawson

Allen & Caron Inc

(949) 474-4300

matt@allencaron.com



Important Additional Information

This press release is neither an offer to purchase nor a solicitation of an offer to sell any securities. In connection with the proposed transaction, General Electric Company and Crane Merger Sub, Inc. have filed tender offer documents with the SEC. These documents have been mailed to all Clarient stockholders of record. These documents, as they may be amended from time to time, contain important information about the proposed transaction and Clarient stockholders are urged to read them carefully and in their entirety before any decision is made with respect to the proposed transaction. The tender offer materials may be obtained at no charge by directing a request by mail to Morrow & Co., LLC, 470 West Avenue 3rd Floor, Stamford, CT 06902, or by calling toll-free at (800) 279-6413, and may also be obtained at no charge at the website maintained by the SEC at www.sec.gov.

SOURCE GE Healthcare


Read at BioSpace.com

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES
 

//-->