Healthcare Industry News: Hologic
News Release - October 18, 2007
Cytyc Stockholders Approve Hologic MergerMARLBOROUGH, Mass.--(HSMN NewsFeed)--Cytyc Corporation (NASDAQ: CYTC ) announced today that its stockholders have approved the merger with Hologic, Inc. In excess of 76 percent of the outstanding shares of Cytyc were voted in favor of the transaction at the special meeting.
As previously announced on May 20, 2007, Hologic and Cytyc entered into a definitive agreement to combine the two companies in a cash and stock transaction under which Cytyc stockholders would receive 0.52 of a share of Hologic common stock and $16.50 in cash for each share of Cytyc common stock they own for a total consideration of approximately $6.2 billion. The transaction is expected to close early next week, subject to the satisfaction of other previously disclosed closing conditions.
Cytyc Corporation is a diversified diagnostic and medical device company that designs, develops, manufactures, and markets innovative and clinically effective diagnostic and surgical products. Cytyc’s products cover a range of cancer and women’s health applications, including cervical cancer screening, preterm birth screening, treatment of excessive menstrual bleeding, radiation treatment of early-stage breast cancer, and radiation treatment of patients with malignant brain tumors.
Cytyc is traded on The NASDAQ Global Select Market under the symbol CYTC. Cytyc is a registered trademark of Cytyc Corporation.
Information set forth in this communication contains forward-looking statements, which involve a number of risks and uncertainties. Cytyc cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Without limiting the foregoing, Cytyc cannot guarantee that the merger with Hologic will be completed on a timely basis, if at all. Among other things, the transaction is subject to customary closing conditions. In addition, each party has termination rights in certain limited circumstances. The risks and uncertainties included above are not exhaustive. The Joint Proxy Statement/Prospectus (File No. 333-144238), filed with the SEC by Hologic pursuant to Rule 424(b)(3) under the Securities Act of 1933, and the annual reports on Form 10-K, the quarterly reports on Form 10-Q, current reports on Form 8-K and other documents Cytyc has filed with the SEC contain additional factors that could impact the timing or completion of the transaction. Cytyc expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the parties’ expectations or any change in events, conditions or circumstances on which any such statement is based.
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