Mergers & Acquisitions

Medical hand-held device company postpones acquisition of Israeli company

Published in Biotech Business Week, January 24th, 2005

Voice Diary, Inc. (VDYI) agreed with Nir-Or Israel Ltd., an Israeli aerospace and defense company, to postpone the proposed acquisition of the business of Nir-Or by VDYI described in the nonbinding letter of intent dated September 2, 2004, between VDYI and Nir-Or. The parties may ultimately elect not to proceed with the acquisition.

"We agreed to postpone the closing of a definitive agreement because both parties felt that they should check other opportunities before undertaking the proposed transaction" said Arik Hinkis, president of VDYI.

The 2 companies will continue to discuss the proposed transaction in the coming 3 months. During this period...

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Source: Biotech Business Week (2005-01-24)

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