Mergers & Acquisitions

Biotechnology companies revise merger terms

Published in AIDS Weekly, November 15th, 2004

ViroLogic, Inc., (VLGC) and ACLARA BioSciences, Inc. (ACLA) announced that they have modified the terms of the contingent value rights (CVR) in the definitive merger agreement previously executed by the companies.

While CVR terms have been revised, the exchange ratio remains unchanged with each outstanding share of ACLARA common stock to be exchanged for 1.7 shares of ViroLogic common stock and 1.7 CVR. The companies have postponed their respective annual meetings.

In addition, ViroLogic announced that it expects to report revenue of approximately $8.6 million for the third quarter of 2004 compared to $9.2 million for the third quarter of 2003. As a...

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Source: AIDS Weekly (2004-11-15)

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