Mergers & Acquisitions
Beckman Coulter Announces Additional Details on Financing for Its Proposed Acquisition of Biosite Incorporated
Published in Healthcare Mergers, Acquisitions and Ventures Week, April 21st, 2007
Beckman Coulter, Inc. (NYSE:BEC) announced additional details regarding its financing strategy for the proposed acquisition of Biosite Incorporated (NASDAQ:BSTE). On March 25, 2007, Beckman Coulter announced it had entered into a definitive merger agreement with Biosite under which Beckman Coulter will acquire all of Biosite's outstanding common stock in a cash tender offer of $85.00 per share, or approximately $1.55 billion on a fully diluted share basis. Financing for the transaction has been fully committed by Morgan Stanley and Citigroup.
Upon the change of control, all of Biosite's stock options will vest, and are expected to be converted into Beckman Coulter stock...
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