Siemens extends tender offer deadline for Dade Behring

By Lisa Kerner

Charlotte, N.C., Sept. 5 - Siemens Corp. subsidiary Belfast Merger Co. extended the expiration date for its cash tender offer for all outstanding shares of Dade Behring Holdings, Inc. common stock to midnight ET on Sept. 26.

A total of 39,128,122, or 48.84%, of Dade Behring shares had been validly tendered as of 4 p.m. ET on Sept. 5, a company news release stated.

On July 25, Dade Behring's board recommended its shareholders approve the company's acquisition by Siemens for $77 per share in a cash tender offer slated to begin Aug. 8.

The transaction, valued at $7 billion, is expected to close in the second quarter of 2008.

Dade Behring, a clinical diagnostics company based in Deerfield, Ill., operates in 35 countries. The company had 2006 revenue of more than $1.7 billion.

Munich-based Siemens develops and manufactures electrical engineering products and electronics.

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