Merge Healthcare's bid to acquire clinical trials software firm etrials Worldwide is moving forward, with etrials stockholders tendering shares worth 86% of the company to Merge as of the offer's deadline on July 14.
Merge now plans to exercise an option to increase its holdings to 90% of outstanding etrials shares, and then acquire all remaining shares as soon as is practicable, the Milwaukee-based company said.
Upon completion of the merger, the remaining outstanding shares of etrials common stock will be converted into the right to receive 80¢ in cash, without interest, and 0.3448 shares of Merge common stock.
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