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Amersham Shareholders OK GE Acquisition

NEW YORK, March 17 (GenomeWeb News) - Amersham shareholders today gave thumbs up to the company's acquisition by General Electric, one of the final approval hurdles facing the $9.5 billion proposed merger, which was announced in October.

 

Amersham shareholders, by proxy and at a court meeting and an extraordinary general meeting held today in London, approved the share-exchange acquisition, the company said.

 

The transaction, which is still subject to approval by the British High Court, Amersham said, is expected to be completed on April 8. The pricing of the share exchange will be calculated based on the trading period between March 23 and April 5, Amersham said.

 

Under the terms of the merger, William Castell, the chief executive officer of Amersham, will become a vice chairman of General Electric and Amersham will become General Electric Healthcare Technologies, the first of GE's divisions headquartered outside the US.

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