07 Sep GE Cleared Buy Instrumentarium
WAUKESHA, WI.–GE Medical Systems has received required regulatory approvals for the $2.3 billion acquisition of Instrumentarium Corporation. The company has agreed to divest of two divisions of the company they are acquiring. GE Medical Systems, a medical imaging equipment manufacturer plans to integrate Instrumentarium it into its GE Medical Systems Information Technologies under the management of CEO, Dow Wilson..
The final required regulatory approvals, including those of the U.S. Department of Justice and the Canadian Competition Bureau, and with the European Commission’s previously announced approval, GE’s tender offer for all Instrumentarium shares and options has been set to expire September 30, 2003.
GE in response to concerns about the merger has agreed to divest the Ziehm surgical C-arm business of Instrumentarium. GE also confirmed with the European Commission to divest Instrumentarium’s Spacelabs patient monitoring business, and to maintain on a global basis GE’s and Instrumentarium’s current practice of open interfaces for the products covered by the commitments.
GE will announce the results of the tender offer on or about October 6, 2003. Provided that the minimum condition regarding the acceptance level is met, tendering shareholders and option holders will receive payment of the offer price on or about October 14, 2003.