GE Healthcare's proposed $570 million acquisition of advanced oncology testing and diagnostic services firm Clarient of Aliso Viejo, CA, is one step closer to completion, according to the company.
The tender offer from GE of Chalfont St. Giles, U.K., for all outstanding shares of common and preferred stock of Clarient at $5 in cash per common share and $20 per preferred share has expired. GE said it has received 71.2 million common shares and 5.3 million preferred shares, representing approximately 80% of the outstanding common shares, 100% of the previously outstanding preferred shares, and approximately 84% of the outstanding common and preferred shares of Clarient on an as-converted basis.
Commitments for approximately 12.6% of the outstanding common shares have also been received, GE said. In addition, GE has announced a subsequent offering period of its tender offer to acquire all remaining common Clarient shares. This period will expire at midnight on December 21.
GE said it intends to complete a "short-form merger" as soon as possible on or after December 22.
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