ALISO VIEJO, Calif., Nov. 5, 2010 /PRNewswire-FirstCall/ -- Clarient, Inc. (Nasdaq: CLRT) announced today that its board of directors has unanimously agreed to recommend that Clarient stockholders tender their shares to General Electric Company (NYSE: GE) at the previously announced price of $5.00 per share of Clarient's common stock and $20.00 per share of Clarient's Series A Convertible Preferred Stock.
The transaction is expected to close during the fourth quarter of 2010 and is subject to various conditions, including the tender of at least a majority of the fully diluted shares of Clarient's common stock and a majority of the outstanding shares of Series A Convertible Preferred Stock in the tender offer and the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. Following completion of the tender offer, General Electric will acquire all remaining shares of Clarient's common stock and Series A Convertible Preferred Stock through a second step merger at the same price per share paid in the tender offer (without interest and subject to applicable withholding taxes).
In consultation with its financial and legal advisors, Clarient has filed a solicitation/recommendation statement on Schedule 14D-9 with the Securities and Exchange Commission. Stockholders of Clarient are advised to read Clarient's Schedule 14D-9 statement because it contains important information. Stockholders may obtain a free copy of the statement at the SEC's website at www.sec.gov. Stockholders may also obtain, without charge, a copy of the statement from Clarient by calling 949-474-4300 or by emailing email@example.com.
Goldman, Sachs & Co. is serving as financial advisor, and
|SOURCE Clarient, Inc.|
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