Italian contrast media developer Bracco is moving forward with its plans to purchase the rest of Esaote and take the ultrasound and MRI firm private. In July, Milan-based Bracco had launched a voluntary tender offer of 5.165 euros per share for the remaining shares of Esaote; at the time, Bracco owned a 60% stake in Esaote.
Via the tender offer, Bracco said it planned to purchase a significant number of shares to allow the delisting of Esaote. Bracco believes this plan will provide greater business and financial flexibility, particularly in light of its own potential stock listing, according to the firm.
As of September 25, the tender offer had exceeded 75% of the share capital in Esaote. The offer was scheduled to be completed on October 4.
By AuntMinnie.com staff writersOctober 8, 2002
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