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Invitrogen, Applied Biosystems Complete Merger

NEW YORK (GenomeWeb News) – As expected, Invitrogen and Applied Biosystems have completed their $6.7 billion merger today, Invitrogen announced.
The combined company will be called Life Technologies and will begin trading on the Nasdaq exchange under the symbol “LIFE” on Monday, Nov. 24.
As reported yesterday by GenomeWeb Daily News, ABI’s shareholders overwhelmingly opted to receive all cash for their shares. Around 84 percent of the outstanding shares elected to receive all cash, while 2 percent elected to receive Invitrogen stock and 7 percent elected to receive a mixed consideration of cash and stock. Another 7 percent did not make a valid election and therefore will receive mixed consideration.
Invitrogen said today that those stockholders who elected the cash option will receive slightly more cash and slightly fewer shares than they would have received if they had chosen the mixed stock and cash consideration. The firm intends to provide a final election tally and prorated disbursement figures by Nov. 28. Proceeds will be disbursed no later than the first week of December.
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