From the Boston Globe Business Team
Cytyc to make new offer for Adeza
March 19, 2007 02:55 PM
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Cytyc Corp. said a tender offer to buy outstanding shares of Adeza Biomedical Corp. for $24 per share expired at midnight Friday and it's is poised to make an additional tender offer.
The Marlborough medical device maker's wholly owned subsidiary, Augusta Medical Corp., bought roughly 15.3 million shares, or 87.4 percent, of Adeza's common stock through the initial offer.
Cytyc needs to purchase 88 percent of Adeza's common stock to complete its planned $425 million acquisition of the company, a company official said. Adeza markets tests for risk of preterm birth and infertility.
The company is now issuing a second tender offer for Adeza, also priced at $24 per share, that it expects to close March 30.
(AP)
