Radiopharmaceutical developer Syncor International and Cardinal Health have agreed to extend the date by which each company may elect to terminate Dublin, OH-based Cardinal Health's acquisition bid. The amendment, which moves the date from December 31, 2002 to January 15, 2003, does not affect any other terms of the acquisition agreement, according to the companies. Syncor of Woodland Hills, CA, and Cardinal Health said they extended the date to allow for further discussions on possible modification of the agreement.
Cardinal’s proposed acquisition has been complicated by the revelation that one of Syncor’s overseas subsidiaries made "questionable payments" exceeding $500,000 to customers in Taiwan. The news has caused a sharp drop in Syncor’s stock price and has sparked a number of shareholder lawsuits.
By AuntMinnie.com staff writersNovember 25, 2002
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