This article was originally published in The Gray Sheet
Executive SummaryFiles a registration statement with the Securities and Exchange Commission proposing an offering of 2 mil. shares of common stock held by a Becton-Dickinson subsidiary. B-D obtained the shares when its Applied Biosystems holdings were exchanged into Perkin-Elmer shares as part of the two firms' merger ("The Gray Sheet" Oct. 12, 1992, p. 3). Following the proposed offering, B-D will have completely divested its interest in Perkin-Elmer, which will receive no proceeds from the transaction. "The sale of these securities is consistent with" B-D's policy "to maintain investments only in niche market companies," according to B-D President and CEO Raymond Gilmartin. First Boston Corporation will underwrite the offering.
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