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Escalon launches exchange offer for Drew Scientific

This article was originally published in Clinica

Executive Summary

Despite the objections last month of its takeover target, Escalon Medical has commenced the exchange offer for UK diagnostics firm Drew Scientific. The Wayne, Pennsylvania-based ophthalmic and vascular access product maker adjusted its initial offer following a one for two rights issue by Drew, but the bid still values the UK firm at 6p ($0.11) a share.

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