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Biotech / Medical : Cistron Biotechnology(CIST)$.30 -- Ignore unavailable to you. Want to Upgrade?

To: biowa who wrote (2601)	2/17/2000 8:10:00 PM
From: celeryroot.com	Read Replies (2) \| Respond to of 2742

thanks Biowa this is great

To: biowa who wrote (2601)	2/24/2000 1:49:00 AM
From: Walter Morton	Read Replies (1) \| Respond to of 2742

... non-binding.... initial transaction.... Cistron says to be acquired by a biotech firm PINE BROOK, N.J., Feb 23, 2000 (Reuters) - Cistron Biotechnology Inc. (OTC BB:CIST.OB - news) said Wednesday it signed a non-binding letter of intent to be acquired by a major biopharmaceutical company. The deal calls for the company, which was not named, to acquire all of Cistron's outstanding common stock. Cistron said that the unnamed company has a market capitalization of about $4 billion. The proposed deal will be structured as an exchange of common stock and the initial transaction will be worth $15 to $20 million, Cistron said. The final contract will be subject to shareholder approval. For the first quarter 2000 ended Sept 30 1999, Cistron had about 20.7 million shares outstanding. Shares of Cistron were up 7/32 at 11/16 late Wednesday morning in over-the-counter bulletin board trading. biz.yahoo.com Is the letter of intent non-binding for both companies? What is meant by "initial transaction?"