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Strategies & Market Trends : Paint The Table -- Ignore unavailable to you. Want to Upgrade?

To: Libbyt who wrote (15829)	2/22/2002 4:56:52 PM
From: Libbyt	Read Replies (1) \| Respond to of 23786

Identix, Visionics to Merge in Stock Deal Fri Feb 22, 4:41 PM ET NEW YORK (Reuters) - Specialty security companies Identix Inc. and Visionics Corp. said on Friday they would combine in a $600 million stock deal to gain leverage in a hot industry as airlines and companies seek to bolster security. Identix Chairman and Chief Executive Robert McCashin will serve as chairman of the new company, and Visionics CEO Joseph Atick will serve as the CEO. The new company, still unnamed, will have a board comprised of eight directors, four from each company. Each Visionics share will be worth 1.3436 shares of newly issued Identix stock. Identix shareholders will own 52.4 percent of the new company and Visionics shareholders will own the other 47.6 percent. Identix shares closed down 16 cents, or 2.3 percent, at $6.95 on Nasdaq ahead of the announcement, and Visionics story.news.yahoo.com ***** Hmmmmm....IMO this will help this one "bounce". IMO a win/win for both IDNX and VSNX.