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Invitrogen Completes 95 Percent of BioReliance Merger

NEW YORK, Feb. 6 (GenomeWeb News) - Invitrogen announced today that its subsidiary, Baseball Acquisition, has accepted for purchase about 95 percent of the outstanding shares of BioReliance, a Rockville, Md.-based contract service organization.

 

Invitrogen announced in  December that it would acquire the company for $500 million. The announcement today said that Invitrogen would pay $48 per share for BioReliance's approximately 8.4 million shares.

 

The acquiring company said further that it intends to effect a short-term merger now that 95 percent of the shares are to be purchased. Once the merger has been entirely completed, BioReliance will become a wholly-owned subsidiary of Invitrogen.

 

The Scan

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