In Brief: GE Medical Systems
This article was originally published in The Gray Sheet
Executive Summary
GE Medical Systems: Gains 19% ownership of Fischer Imaging through purchase of 1.3 mil. shares at $7.50 per share of Fischer Series D convertible preferred stock. The shares are convertible on a one-to-one basis into common stock. Proceeds of the deal "will be used primarily to repay bank debt," according to Fischer. GE "agreed to certain standstill provisions regarding control of Fischer, including a 25% limit on its ownership" in the company...