Dendrite Completes Tender Offer For SYNAVANT.Business Editors/Health/Medical Writers MORRISTOWN, N.J.--(BUSINESS WIRE)--June 16, 2003 Dendrite dendrite: see nervous system; synapse. 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 :DRTE DRTE Defence Research Telecommunications Establishment ) today announced the successful completion of its cash tender offer for all outstanding common stock of SYNAVANT Inc. (NASDAQ:SNVT SNVT Standard Network Variable Types SNVT Short No Voltage Tester ). The offer expired as scheduled at 11:59 p.m. New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time on Friday, June 13, 2003. Based on preliminary information, more than 92 percent of the outstanding common stock of SYNAVANT was validly tendered and not withdrawn prior to the expiration of the offer. All such shares have been accepted for purchase by Dendrite's Amgis Acquisition Co. subsidiary in accordance with the terms of the offer. Pursuant to the merger agreement among the parties, Dendrite and SYNAVANT intend to consummate a second-step merger in which SYNAVANT will become a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Dendrite. Each share of SYNAVANT common stock not validly tendered in the offer will, subject to appraisal rights Appraisal rights A right of shareholders in a merger to demand the payment of a fair price for their shares, as determined independently. , be converted into the right to receive $3.22 in cash, without interest, in the merger. In accordance with applicable law, the merger will be completed without a vote of SYNAVANT's shareholders due to the amount of shares acquired during the offer. It is anticipated that the merger will occur as promptly as practicable. About Dendrite Dendrite develops and delivers solutions that increase the productivity of sales, marketing, and clinical processes for pharmaceutical and other life science clients. For more information, visit www.dendrite.com. Note: Dendrite is a registered trademark of Dendrite International, Inc. The foregoing contains 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. 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. The statements may be identified by such forward-looking terminology as "expect," "believe," "may," "will," "intend," "plan," and similar statements or variations. All "outlook" information constitutes forward-looking statements. Such forward-looking statements are based on our current expectations, estimates, assumptions and projections and involve certain significant risks and uncertainties, including those which may result from our dependence on the pharmaceutical industry; dependence on major customers; economic pressures and legislative and regulatory impact on our customers; fluctuations in quarterly revenues due to lengthy sales and implementation cycles for our products; our fixed expenses in relation to fluctuating revenues; successful and timely development and introduction of new products and versions; rapid technological changes; increased competition; international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. ; acquisitions; our ability to attract and retain key personnel; the protection of our proprietary technology; our ability to compete in the Internet-related products and services market; the continued demand for Internet-related products and services; the ability of our third party vendors to respond to technological change; our ability to maintain our relationships with third-party vendors; results from strategic relationships; risks associated with events that may affect the world economy, including terrorism, military action in the Middle East or threat of other hostilities in the Middle East, Asia and other geographical regions; catastrophic events which could negatively affect our information technology infrastructure; difficulties disposing of certain of our facilities; and unexpected changes in accounting regulations, standards or interpretations. Other important factors that should be considered are included in the Company's 10-K, 10-Qs, and other reports filed with the SEC. Actual results may differ materially. The Company assumes no obligation for updating any such forward-looking statements to reflect actual results, changes in assumptions or other changes affecting such forward-looking statements. |
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