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Thermo Electron Takes Thermo Ecotek, ThermoLase, and ThermoTrex Subsidiaries Private
WALTHAM, Mass., Aug. 15 /PRNewswire/ -- Thermo Electron Corporation
(NYSE: TMO) has completed its previously announced mergers with Thermo Ecotek
Corporation, ThermoLase Corporation, and ThermoTrex Corporation. The common
stock in these corporations is no longer being traded on the American Stock
Exchange.
Minority holders of Thermo Ecotek's common stock will receive .431 shares
of Thermo Electron common stock for every Thermo Ecotek share. Minority
holders of ThermoLase's common stock will receive .132 shares of Thermo
Electron common stock for every ThermoLase share. And minority holders of
ThermoTrex common stock will receive .5503 shares of Thermo Electron common
stock for every ThermoTrex share. Thermo Electron's transfer agent, EquiServe
Trust Company, N.A., will forward to shareholders detailed instructions
regarding how to surrender stock certificates in these companies in order to
receive Thermo Electron stock certificates. Shareholders should not submit
their stock certificates to the transfer agent until they have received these
materials.
Stock options to purchase shares of Thermo Ecotek, ThermoLase, or
ThermoTrex that were outstanding at the time of the mergers have been assumed
by Thermo Electron and converted into options to purchase Thermo Electron
common stock. Convertible debentures of these subsidiaries are now convertible
into Thermo Electron shares.
Thermo Electron Corporation is a leading provider of analytical and
monitoring instruments used in a broad range of applications, from life
sciences research to telecommunications to food and beverage production. In
addition, Thermo Electron serves the healthcare market through a family of
medical companies, and is a major producer of paper recycling systems and
provides fiber-recovery products. As announced on January 31, 2000, the
company has initiated a major reorganization that would transform it into one
publicly traded entity focused on its core instruments business. The company's
medical products and paper recycling businesses will be spun off as dividends
to Thermo Electron shareholders. More information is available on the Internet
at thermo.com. |
