German healthcare giant Siemens has announced an extension until Oct. 31 of the expiration date of its cash tender offer for all outstanding shares of the common stock of publicly traded Dade Behring, Deerfield, Ill., a manufacturer of healthcare laboratory testing equipment and systems and a developer of laboratory-related informatics technology. The July 25 offer, with a value of approximately $7 billion, received the unanimous approval of the Dade Behring board, shares went on sale Aug. 8 and the deal received clearance from U.S. antitrust review Sept. 17, according to announcements by both companies. Siemens says that it expects to receive European regulatory approvals in time for the transaction to close later this year. As of Wednesday, nearly 83% of the outstanding shares of Dade Behring common stock had been tendered and not withdrawn, according to Siemens.
Siemens extends offer for Dade Behring stock
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