SEC filing on Acumedia deal.
Neog management, keep up the good work as this appears to be a very good deal.
I'm expecting this past quarter to be very good as we leave the problems behind us and looking forward we win several million from vicam (pays for accumedia) and due three or four more of these deals:
On February 17, 2000, Neogen Corporation purchased 100% of the common stock of Acumedia Manufacturers, Inc., with principal offices in Baltimore, Maryland. Acumedia, an internationally recognized producer of culture medias, was a wholly owned subsidiary of IDEXX Laboratories, Inc. There is no relationship between IDEXX and Neogen or any of their affiliates.
The consideration for the sale, which was determined through arms length negotiations, subject to certain post closing adjustments, was $2,850,000, which included cash at the closing of $2,400,000 and a one year 7% promissory note of $450,000, and up to an additional $1,000,000 based on levels of post closing revenues. The source of cash consideration was available Neogen cash balances.
Neogen intends to continue to operate the business at its present location. |
