Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : PE Biosystems (PEB) -- Ignore unavailable to you. Want to Upgrade?

To: Don Dorsey who wrote (6)	1/16/1998 10:40:00 AM
From: Don Dorsey	Read Replies (1) \| Respond to of 122

PKN is very active on the merger front. This can be expensive, but it can also build a major force in the industry. Perkin-Elmer and PerSeptive Biosystems Receive Antitrust Clearance For Merger PR Newswire - January 16, 1998 10:33 NORWALK, Conn. and FRAMINGHAM, Mass., Jan. 16 /PRNewswire/ -- Perkin-Elmer (NYSE: PKN) and PerSeptive Biosystems, Inc. (Nasdaq: PBIO) announced today that the Antitrust Division of the U.S. Department of Justice has agreed to a termination of the waiting period for completion of the parties' previously announced merger under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act. The companies also announced that PerSeptive has agreed to sell its DNA synthesis patent rights to NeXstar Pharmaceuticals, Inc. The merger has been scheduled for completion on January 22, 1998. In the merger, shares of PerSeptive common stock will be converted into shares of Perkin-Elmer common stock at an exchange rate equal to $13.00 divided by the average closing sales prices of Perkin-Elmer stock on the New York Stock Exchange composite tape during the 20 trading days ending on Friday, January 16, 1998. In no event, however, will the exchange rate be more than 0.1926, or less than 0.1486, of a share of Perkin-Elmer common stock for each share of PerSeptive common stock. SOURCE PerSeptive Biosystems, Inc. /CONTACT: Noubar B. Afeyan, Ph.D., Chairman and CEO of PerSeptive, 508-383-7710 or Investors: Charles Poole, 203-761-5400 or Media: Edward Bloch (East Coast), 203-761-5248 or Valerie Tucker (West Coast), 650-638-5530 all with Perkin-Elmer/ (PBIO PKN)