By Lisa Kerner
Charlotte, N.C., Feb. 13 - MDS Inc. said its tender offer for shares of Molecular Devices Corp. common stock will end on March 13.
MDS is conducting the offer through its subsidiary Monument Acquisition Corp. and will pay $35.50 per share.
Molecular Devices' board has approved the $615 million cash transaction, according to a company release.
The merger agreement includes a $23 million termination fee.
MDS previously said it planned to combine Molecular Devices and its MDS Sciex division into a new business unit, while maintaining both brand names.
Molecular Devices is a Sunnyvale, Calif., supplier of measurement tools for screening, cellular analysis and biochemical testing.
MDS is a life sciences company based in Toronto.
| Acquirer: | MDS Inc.
|
| Target: | Molecular Devices Corp.
|
| Payment per share: | $35.50 per share
|
| Termination fee: | $23 million
|
| Announcement date: | Jan. 29
|
| Tender offer ends: | March 13
|
| Stock price for target: | Nasdaq: MDCC; $35.28 on Feb. 13
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