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Biotech / Medical : Munch-a-Biotech Today

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To: Biomaven who started this subject	2/13/2003 3:28:59 PM
From: scaram(o)uche	Read Replies (1) of 3158

Little Bear raises bid for Caliper Technologies Thursday February 13, 3:25 pm ET NEW YORK, Feb 13 (Reuters) - Little Bear Investments LLC said on Thursday it raised its offer to acquire biotechnology company Caliper Technologies Corp. (NasdaqNM:CALP - News) after Caliper's board unanimously rejected a $100 million bid Wednesday. Little Bear, which targets distressed companies as takeover targets, raised its offer to $4.50 per share from $4.15 per share. The offer is now valued at about $110 million. Shares of Caliper, which makes technology that allows lab experiments to be conducted on a chip small enough to fit in a child's hand, rose 20 percent to $3.60 on the news. The shares had traded as high as $49.38 in late 2000, but have dropped more than 90 percent since then.

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