Patient-monitoring provider Invivo Research has turned down an acquisition offer by MRI components provider Intermagnetics General (IGC) of Latham, NY.
IGC last month proposed to buy Invivo at a price of $15 per share in cash and $4 per share of IGC common stock, Invivo said. The Orlando, FL-based firm’s board of directors said that the proposed acquisition price represented a premium of only 16.9% over Invivo’s closing price as of the date of the offer.
By AuntMinnie.com staff writersNovember 4, 2003
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