GE Medical Systems reported that as a result of its tender offer for all shares and options of Instrumentarium on October 6, it intends to acquire all the remaining shares and options in the Finnish firm. The tender offer resulted in the Waukesha, WI-based GE’s wholly owned subsidiary, General Electric Finland Oy, holding more than nine-tenths of the shares and votes in Instrumentarium.
As a consequence, GE Finland has the right to redeem the shares held by other shareholders in Instrumentarium at the current price. GE Finland will offer the remaining shareholders a redemption price of 36 euros ($42.19) per share, the same price it offered in its public tender offer for the shares announced on January 10.
In addition, GE Finland will be responsible for possible transfer tax payable in Finland deriving from the redemption of the shares as well as for the payments and charges arising from the book-entry registrations carried out as a consequence of the redemption, the firm said.
By AuntMinnie.com staff writers
October 14, 2003
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