NEW YORK, Sept. 18 /PRNewswire-FirstCall/ -- Siemens Corporation, a wholly owned subsidiary of Siemens AG (NYSE: SI), announced today that the statutory waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, applicable to its cash tender offer for all of the issued and outstanding shares of common stock of Dade Behring Holdings, Inc. (Nasdaq: DADE) has been terminated.
Siemens Corporation, through its wholly owned subsidiary Belfast Merger Co., commenced a tender offer on August 8, 2007 for all of the outstanding shares of common stock of Dade Behring for $77 per share, net to the seller in cash. On September 5, 2007, the tender offer was extended to 12:00 Midnight, New York City time, on Wednesday, September 26, 2007.
Siemens has submitted a draft of the required merger control filing with the European Commission and has since been in discussions with the authority. Siemens believes that it is possible that it might obtain competition law clearance, and therefore be able to close the transaction, during calendar 2007.
Following completion of the tender offer, any remaining shares of Dade
Behring Holdings, Inc. will be acquired in a merger at the same price. The
transaction is conditioned on, among other things, receipt of regulatory
approvals and has a value of approxima
|SOURCE Siemens Medical Solutions|
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