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THERMO INSTRUMENT SYSTEMS COMPLETES TENDER OFFER FOR NICOLET STOCK

THERMO INSTRUMENT SYSTEMS COMPLETES TENDER OFFER FOR NICOLET STOCK
 WALTHAM, Mass., Aug. 21 /PRNewswire/ -- Thermo Instrument Systems Inc. (AMEX: THI) announced today that it has completed, through a wholly owned subsidiary, a cash tender offer for the outstanding shares of common stock of Nicolet Instrument Corporation (NYSE: NIC) at $21 per share. Preliminary figures indicate that approximately 8 million shares were tendered and accepted for payment, which, together with previously acquired shares, results in total ownership by Thermo Instrument and its affiliates of approximately 95 percent of Nicolet common stock.
 The offer and withdrawal rights expired at midnight, EDT, Thursday, Aug. 20, 1992.
 Thermo Instrument and Nicolet have entered into a definitive merger agreement under which those holders of Nicolet common stock who failed to tender their shares in the tender offer would be entitled to receive $21 per share in cash, and Nicolet would become a wholly owned subsidiary of Thermo Instrument.
 Nicolet Instrument Corporation designs, manufactures, and markets instrumentation for a broad range of analytical chemistry, neuro- diagnostic, and electronic engineering problem-solving applications in science and industry. The company's headquarters are located in Madison, Wis.
 Thermo Instrument Systems develops, manufactures, and markets analytical instruments used to detect and monitor air pollution, radioactivity, complex chemical compounds, and toxic metals and other elements in a broad range of liquids and solids. The company also provides environmental science and engineering services, laboratory- based testing, and nuclear health physics services. Thermo Instrument Systems is a public subsidiary of Thermo Electron Corporation.
 -0- 8/21/92
 /CONTACT: John Hatsopolous of Thermo Electron, 617-622-1111/
 (THI NIC) CO: Thermo Instrument Systems; Nicolet Instrument Corporation ST: Massachusetts, Wisconsin IN: SU: OFR


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Publication:PR Newswire
Date:Aug 21, 1992
Words:284
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