The board of Finnish medical device company Instrumentarium has proposed to pay a per-share dividend of 4.70 euros ($5 U.S.) to shareholders if the proposed sale of the firm to General Electric goes through. Of the amount, 4 euros represents a special dividend related to the sale to GE, while the rest is Instrumentarium’s regular annual dividend.
As specified under the terms of the acquisition deal, GE has revised the price of its tender offer to 36 euros ($38.36) to reflect the dividend; the offer was originally 40 euros ($42.63) per share.
GE, the parent company of GE Medical Systems, expects to extend the tender offer period beyond the original preliminary expiration date of April 11, 2003, in order to accommodate the regulatory approval process. The vendors anticipate closing of the acquisition to take place in the second or third quarter of 2003.
By AuntMinnie.com staff writersMarch 26, 2003
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