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Immucor/Gamma Biologicals

This article was originally published in The Gray Sheet

Executive Summary

Merger agreement valued at $25 mil. calls for Immucor to launch a cash tender offer for all outstanding GB shares at $5.40 each. The combination would make Immucor "the market leader in providing blood serology reagents and systems in the U.S. and Canada, and will greatly strengthen its international market position," Immucor states. The tender offer, begun Sept. 25, is expected to close Oct. 23, whereupon GB will become a wholly owned subsidiary of Immucor. Stock in GB, which posted fiscal 1998 revenues of $18 mil., closed at $3 on Sept. 18, the last trading day before the announcement

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