GE Healthcare finishes first part of Clarient bid

Fri, 12/17/2010 - 10:45am
The Associated Press

GE Healthcare said Friday that it completed the first part of its offering for diagnostic services company Clarient Inc.

The General Electric Co. unit agreed in October to buy Clarient for $570 million in cash, or about $5 per share. GE Healthcare said about 84 percent of Clarient's common and preferred shares have been tendered in favor of GE's offer. GE said its depositary has received commitments representing another 12.6 percent of Clarient's shares.

Safeguard Scientific Inc., which owns a 26-percent stake in Clarient, said it expects $144 million in proceeds from the sale. It will receive another $2.6 million when the sale closes.

GE shares fell 6 cents to $17.72 in afternoon trading. Clarient stock gained a penny to $5.


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