MDS extends cash tender offer for shares of Molecular Devices

By Lisa Kerner

Charlotte, N.C., March 14 - MDS Inc. extended the expiration date of the cash tender offer for outstanding shares of Molecular Devices Corp. at $35.50 per share to 5 p.m. ET on March 19 from March 13.

The offer began on Feb. 13 and is being made through MDS' wholly owned subsidiary Monument Acquisition Corp.

The company said it extended the offer in consideration of certain foreign regulatory conditions necessary to complete the pending acquisition. With the Hart Scott Rodino pre-merger waiting period satisfied, MDS expects the transaction to close within the next several weeks, according to a company news release.

As of the original expiration date, 14,450,615 shares, or 76%, of Molecular Devices' common stock had been validly tendered and not validly withdrawn.

MDS announced the definitive merger agreement to acquire Molecular Devices on Jan. 29.

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.

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