Siemens receives approval for acquisition of Dade Behring by European Commission
The deal is perfect: The European Commission gave the ok for Siemens´ plans to acquire the U.S. based laboratory diagnostic company Dade Behring Holdings, Inc.. Due to that deal, Siemens will secure its leadership position in the attractive and growing market of laboratory diagnostics.
Prof. Dr. Erich Reinhardt, member of the Managing Board of Siemens was “pleased with the European Commission´s decision” that came right in time with the completion of last year´s acquisitions of Diagnostic Products Corporation and Bayer Diagnostics.
Following the eypiration of the cash tender offer for all outstanding shares of Dade Behring next Wednesday, any remaining shares of the company will be acquired in a merger at the same price. Upon completion of the acquisition, which is expected until the end of the year, the company will be merged with Siemens Medical Solutions Diagnostics, a U.S.-based subsidiary and part of Siemens Medical Solutions, well ahead of the previously announced schedule for a closing in the first calendar quarter of 2008
This article was published on 10/26/2007