Clarient preferreds set at $20 each in acquisition by GE Healthcare

By Jennifer Chiou

New York, Oct. 22 - Clarient, Inc. announced that it will be acquired by GE Healthcare for $587 million in a public tender for all Clarient shares at $20 per preferred and $5 per common share.

The completion of the transaction is subject to certain conditions and is expected to close in late 2010 or early 2011.

Clarient's stock price was $3.77 per share at close of business on Thursday. The technology and resources services company focused on oncology is based in Aliso Viejo, Calif. Its partner company Safeguard Scientifics, Inc. is a Wayne, Pa., provider of growth capital for life sciences and technology companies.

Safeguard expects to receive $145 million from the sale proceeds.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.