In Brief: Fisher Scientific
This article was originally published in The Gray Sheet
Fisher Scientific: Laboratory instrument firm is evaluating an unsolicited acquisition offer from Trinity I Fund L.P., an investment group associated with members of the Bass family of Texas, the company announces June 5. Trinity, a minority Fisher shareholder, made the offer at a June 4 meeting with Fisher's board of directors. Hampton, New Hampshire-based Fisher says it will respond to the proposal after reviewing it with financial advisors Lazard Freres and Salomon Brothers and legal advisors Wachtell, Lipton, Rosen & Katz. Fisher stock, which had fallen sharply in early May due to lower-than-expected first quarter results, rose 7-1/2 points on the news to close June 5 at 45-3/8. However, Standard & Poor's places its ratings for Fisher on "CreditWatch with negative implications," citing "the potential for weakened credit protection measures associated with an acquisition, including possible defensive tactics"...
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