Printer Friendly
The Free Library
19,585,952 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

BioSource Receives Proposal from Bio-Rad Laboratories.


CAMARILLO, Calif. -- BioSource International, 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
:BIOI) today announced it has received an unsolicited proposal from Bio-Rad Laboratories, Inc. (AMEX AMEX

See: American Stock Exchange
:BIO)(AMEX:BIOB) to acquire the Company. In a letter from Bio-Rad sent to BioSource's Chairman on April 6, 2005, Bio-Rad expressed an interest in acquiring all of BioSource's outstanding shares at $8.50 per share in cash. Bio-Rad's unsolicited proposal is subject to certain conditions, including the completion of due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired.  and the execution of a mutually acceptable merger agreement. Bio-Rad also provided the Company with notice of its intention to nominate six directors for election to the BioSource Board of Directors at the Company's 2005 annual meeting, which is scheduled to be held on May 24, 2005.

BioSource has been informed by Genstar Capital Partners II L.P., its largest stockholder, that the proposed price is significantly below Genstar's view of BioSource's inherent value. The Board of Directors of BioSource will review the Bio-Rad proposal and will respond following the completion of its review.

About BioSource International, Inc.

BioSource International, Inc. is a broad-based life sciences company focused on providing integrated solutions in the areas of functional genomics Noun 1. functional genomics - the branch of genomics that determines the biological function of the genes and their products
genomics - the branch of genetics that studies organisms in terms of their genomes (their full DNA sequences)
, proteomics, and drug discovery through the development, manufacturing, marketing and distribution of unique, biologically active reagent reagent /re·a·gent/ (re-a´jent) a substance used to produce a chemical reaction so as to detect, measure, produce, etc., other substances.

re·a·gent
n.
 systems which facilitate, enable and accelerate pharmaceutical development and biomedical research Biomedical research (or experimental medicine), in general simply known as medical research, is the basic research or applied research conducted to aid the body of knowledge in the field of medicine. . For more information, please visit the Company's Web site at www.biosource.com.

Statements included in this release that are not historical facts may be considered forward-looking statements forward-looking statement

A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections.
 that are subject to a variety of risks and uncertainties. In addition, readers are urged to consider statements that include the terms "believes," "belief," "expects," "plans," "objectives," "anticipates," "intends," "targets," "projections," or the like to be uncertain and forward looking. For these statements, we claim the safe harbor Safe Harbor

1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.

2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive.
 for "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995. Factors that could cause actual results to differ and vary materially from expectations include, but are not limited to, our ability to expand our product offerings and any transition to new products, product quality and availability, any change in business conditions, changes in our sales strategy and product development plans, competitive pricing pressures, continued market acceptance of our products, name recognition of our products, delays in the development of new technology, possible invalidity or infringement issues related to intellectual property or proprietary rights, changes in customer buying patterns, one-time event, and other important factors disclosed previously and from time to time in our filings with the Securities and Exchange Commission. These factors should not be construed as exhaustive. We cannot always predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. We do not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future event, or otherwise.
COPYRIGHT 2005 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Geographic Code:1USA
Date:Apr 7, 2005
Words:479
Previous Article:National Financial Partners to Release First Quarter Earnings on May 4, 2005; Conference Call Scheduled for May 5, 2005.
Next Article:Ecolab Schedules Webcast and Conference Call on April 21st.
Topics:



Related Articles
Cancer-fighting tobacco plants?
Applied Biosystems Obtains Injunctions in Germany Against Bio-Rad and MJ Research.
BRIEFCASE.
BioSource Board Unanimously Rejects Bio-Rad Offer.
Invitrogen Signs Definitive Agreement to Acquire BioSource International; Deal Strengthens Proteomics Franchise and Positions the Company to Enter...
Sysmex, Bio-Rad Laboratories to Jointly Offer Hematology Solution in US.
Applera and Bio-Rad Enter Settlement Discussions over Patent Infringement Lawsuit.
Cell Signaling Technology Expands Partnership with Bio-Rad to Develop Phosphoprotein Assays for Kinase and Signal Transduction Research and Drug...

Terms of use | Copyright © 2012 Farlex, Inc. | Feedback | For webmasters | Submit articles