Siemens, Dade Behring merger clears waiting period hurdle

By Lisa Kerner

Charlotte, N.C., Sept. 18 - The Hart-Scott-Rodino waiting period in the proposed merger of Siemens Corp. and Dade Behring Holdings, Inc. has been terminated, it was announced on Tuesday.

Siemens, through its wholly owned subsidiary Belfast Merger Co., began a $77-per-share cash tender offer for Dade Behring on Aug. 8.

The tender offer is slated to end at midnight ET on Sept. 26.

Siemens believes the transaction will close before the end of 2007, according to a company news release.

The transaction, valued at $7 billion, is conditioned on regulatory approvals.

Dade Behring, a clinical diagnostics company based in Deerfield, Ill., operates in 35 countries. The company had 2006 revenue of more than $1.7 billion.

Siemens is a subsidiary of Munich-based Siemens AG, which develops and manufactures electrical engineering products and electronics.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.