Application Submitted for Scheme of Arrangement Meetings to Approve Ventana's Acquisition of Vision Systems.TUCSON, Arizona Tucson (pronounced /ˈtusɑn/, Spanish: Tucsón [tuk'son] -- Ventana Medical Systems, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : VMSI VMSI Variable Message Signs (roadwork) ) today announced that Vision Systems Limited (ASX ASX See: Australian Stock Exchange : VSL VSL Vessel (shipping) VSL Value of Statistical Life VSL Virtual Software Library VSL Variable Speed of Light (theoretical cosmology/physics) VSL Vector Statistical Library VSL Straight Line Velocity ) has submitted an application to the Supreme Court of Victoria in Australia seeking orders to convene on November 2, 2006, the Scheme of Arrangement meetings for Ventana's acquisition of Vision. In separate meetings to be held on that proposed date, Vision will seek approval from its shareholders and noteholders for the acquisition by Ventana. The application is scheduled to be heard by the Court on September 22, 2006. On August 14, 2006, Ventana and Vision entered into a Merger Implementation Agreement pursuant to which Ventana will pay approximately US$346 million in cash (A$2.13 per share) for all the outstanding shares of Vision Systems and retirement of Vision Systems' convertible debt. The merger agreement has been unanimously approved by the Boards of Directors of both companies. About Ventana Medical Systems, Inc. Ventana Medical Systems develops, manufactures, and markets instrument/reagent systems that automate slide preparation and staining in anatomical pathology anatomical pathology n. The study of the structural and compositional changes that occur in organs and tissues as a result of disease. Also called pathological anatomy. and drug discovery laboratories worldwide. Ventana's clinical systems are important tools used in the diagnosis and treatment of cancer and infectious diseases. Ventana's drug discovery systems are used to accelerate the discovery of new drug targets and evaluate the safety of new drug compounds. Visit the Ventana Medical Systems, Inc., website at http://www.ventanamed.com. |
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