Cytyc’s Higher Bid For Vision Systems Puts Ball Back In Ventana’s Court
This article was originally published in The Gray Sheet
Executive Summary
Cytyc's proposed $374 mil. offer for cancer and infectious disease detection equipment maker Vision Systems Sept. 13 could start a bidding war for the Australian company
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Danaher Beats Out Cytyc, Ventana In Battle For Vision Systems
Cytyc and Ventana are bowing out of a bidding war for cancer and infectious disease detection equipment maker Vision Systems, which says it prefers a richer offer valued at $520 mil. from diversified industrial firm Danaher
Danaher Beats Out Cytyc, Ventana In Battle For Vision Systems
Cytyc and Ventana are bowing out of a bidding war for cancer and infectious disease detection equipment maker Vision Systems, which says it prefers a richer offer valued at $520 mil. from diversified industrial firm Danaher
Vision Systems bidding war continues
Bidding competition for anatomical pathology instrument maker Vision Systems could gain a third contender in Danaher. The diversified manufacturer of microscopic imaging, measurement and analysis tools is considering making an offer for Vision after acknowledging preliminary discussions Sept. 26. Ventana offered $346 mil. for the firm Aug. 13, after which Cytyc proposed a $374 mil. deal Sept. 13. On Sept. 29, Cytyc increased its bid to $517 mil., to "underscore" its "commitment" to completing a transaction in the wake of "increased interest from potential acquirors." Ventana has acquired a 10.2% stake in Vision Systems through open market purchases of 22 mil. shares. Meanwhile, Cytyc has "commitments for 13.9%" of Vision's fully diluted shares (1"The Gray Sheet" Sept. 18, 2006, p. 6)...