Premier Laser/Ophthalmic Imaging Systems
This article was originally published in The Gray Sheet
Executive Summary
OIS rejects Premier's offer to acquire the balance of the approximately 49% of OIS shares not already owned by Premier by a unanimous vote of its board of directors. Premier's non-binding proposal, offering $0.85 worth of Premier Class A common stock for each OIS share outstanding, subject to certain conditions, was "not adequate," OIS says. However, OIS plans to engage a financial advisor to assist in further negotiations. The two firms previously had planned to merge under a February 1998 agreement, which was subsequently dissolved ("The Gray Sheet" Aug. 31, 1998, In Brief)