Siemens begins cash tender for CTI

Siemens Medical Solutions has commenced its previously announced tender offer for all the outstanding shares of common stock of CTI Molecular Imaging.

Malvern, PA-based Siemens will pay $1 billion in cash for CTI of Knoxville, TN. The transaction is subject to customary regulatory approvals and other closing conditions, and is expected to close in the second quarter.

By AuntMinnie.com staff writers
April 1, 2005

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