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Summary Box: GE to buy diagnostics firm Clarient

Fri, 10/22/2010 - 7:45am
The Associated Press

THE DEAL: General Electric Co. said its healthcare unit will buy diagnostics company Clarient Inc. to speed its expansion into cancer diagnostic and therapy selection tools.

THE PARTICULARS: GE will start a cash tender offer of $5 per share for Clarient common stock and $20 for each preferred share. The common shares offer is a 34 percent premium over Clarient's previous closing price.

THE VALUE: GE says the deal values Clarient at $580 million, net of cash and investments. A spokeswoman declined to offer a breakdown on how much the share purchases would cost.

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