Printer Friendly

HOLOGIC, INC. DECLARES DIVIDEND DISTRIBUTION OF COMMON STOCK PURCHASE RIGHTS

 WALTHAM, Mass., Dec. 22 /PRNewswire/ -- The board of directors of Hologic, Inc. (NASDAQ: HOLX) today declared a dividend distribution of one Common Stock Purchase Right on each outstanding share of $.01 par value of common stock.
 S. David Ellenbogen, president and CEO stated, "The Rights are designed to assure that all of Hologic's stockholders receive fair and equal treatment in the event of any proposed takeover of the company and to guard against partial tender offers, squeeze-outs, open market accumulations and other abusive tactics to gain control of the company without paying all stockholders a control premium."
 The Rights will be exercisable only if a person or group acquires 15 percent or more of the company's common stock or announces a tender offer the consummation of which would result in ownership by a person or group of 15 percent or more of the common stock. If either of those events occurs, each right will entitle stockholders to buy one share of common stock at an exercise price of $30.
 In addition, if a person or group does acquire 15 percent or more of Hologic's outstanding common stock (whether through tender offer or otherwise), each Right will entitle its holder (other than such person or members of such group) to purchase, at the Rights then-current exercise price, a number of Hologic's common shares having a market value of twice such price.
 If Hologic is acquired in a merger or other business combination transaction after a person has acquired 15 percent or more of the company's outstanding common stock, each Right will entitle its holder to purchase, at the Right's then-current exercise price, a number of the acquiring company's common shares having a market value of twice such price.
 Following the acquisition by a person or group of beneficial ownership of 15 percent or more of the company's common stock and prior to an acquisition of 50 percent or more of the common stock, the board of directors may exchange the Rights (other than Rights owned by such person or group), in whole or part, at an exchange ratio of one share of common stock per Right.
 Prior to the acquisition by a person or group of beneficial ownership of 15 percent or more of the company's common stock the Rights are terminable at the option of the board of directors.
 The Rights are intended to enable all Hologic stockholders to realize the long-term value of the investment in the company. They will not prevent a takeover, but should encourage anyone seeking to acquire the company to negotiate with the board prior to attempting a takeover. In declaring the Rights dividend, the board of directors was not aware of any person who beneficially owned 15 percent or more of the company's common stock or had any intention to do so.
 The dividend distribution will be made on Dec. 22, 1992, payable to stockholders of record on Dec. 22, 1992. The Rights will expire on Dec. 31, 2002. The Rights distribution is not taxable to stockholders.
 Hologic, Inc. develops, manufactures and markets proprietary x-ray systems. With more than 1,100 installations worldwide, the company's QDR x-ray bone densitometers are used for the precise measurement of bone density to assist in the diagnosis and monitoring of osteoporosis and other metabolic bone diseases. Osteoporosis, a condition characterized by decreased bone density and increased risk of fractures, occurs in at least one of three women over the age of 65.
 -0- 12/22/92
 /CONTACT: S. David Ellenbogen, president, or Glenn Muir, vice president, finance of Hologic Inc., 617-890-2300/
 (HOLX)


CO: Hologic Inc. ST: Massachusetts IN: HEA SU:

TM -- NE012 -- 9295 12/22/92 16:45 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 22, 1992
Words:611
Previous Article:BAY AREA HOME SALES
Next Article:MR. JAMES F. CONWAY, JR.
Topics:


Related Articles
HOLOGIC, INC. ANNOUNCES SECOND QUARTER FISCAL 1995 OPERATING RESULTS AND DEVELOPMENT AGREEMENT WITH SEREX, INC.
HOLOGIC, INC. FILES FORM S-3 REGISTRATION STATEMENT AND DECLARES TWO-FOR-ONE STOCK SPLIT
HOLOGIC, INC. ANNOUNCES TWO FOR ONE STOCK SPLIT
HOLOGIC, INC. TO MERGE WITH FLUOROSCAN IMAGING SYSTEMS, INC.
HOLOGIC ACHIEVES RECORD REVENUES AND EARNINGS IN THE THIRD QUARTER OF FISCAL 1996
Cardiometrics Adopts Shareholder Rights Plan
Hologic, Inc. Files Form S-3 Registration Statement.
Hologic Commences Public Offering.
Hologic Announces First Quarter Fiscal 2002 Operating Results; Positive EBITDA achieved in first fiscal quarter.
Hologic Announces Two-For-One Stock Split.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters