Argonaut Technologies, Inc. Broadens Its Agreement to Sell Stock and Certain Assets to Biotage AB

21-Mar-2005

Argonaut Technologies announced it has amended its definitive agreement with Biotage AB to increase the purchase price to $21.2 million in cash and to include the sale of certain assets (excluding receivables) and the assumption of specified liabilities, including warranty service and maintenance, and accounts payable of up to $350,000 associated with its remaining process development Products and services.

Under the amended agreement Biotage will also take on the employment responsibility for additional Argonaut employees associated with its Process Development Business. On February 21, 2005 the Company entered into a definitive agreement with Biotage AB under which Argonaut Technologies agreed to sell stock and certain assets of its consumables and flash chromatography business for approximately $19.9 million in cash.

The Company will file an amended proxy statement to reflect the new terms and conditions. The agreement with Biotage AB was amended in response to an unsolicited proposal from a third party.

The agreement is part of Argonaut's ongoing effort announced in November 2004 to evaluate and pursue strategic alternatives. Argonaut Technologies intends to distribute a significant portion of the net proceeds received in the sale to stockholders promptly after the closing of the transaction, which is subject to stockholder approval and other customary closing conditions. Argonaut Technologies expects that the stockholder meeting to approve this sale will be held during the second quarter of 2005.

Other news from the department business & finance

These products might interest you

SepsiTest™-UMD CE IVD

SepsiTest™-UMD CE IVD by Molzym

Make yourself independent: 16S/18S PCR for pathogen identification

Fast and precise detection of bacteria and fungi in blood/body fluids and tissue

diagnostic kits
SureSTART Vials and Well Plates

SureSTART Vials and Well Plates by Thermo Fisher Scientific

SureSTART autosampler vials for all chromatography applications and budgets

3 performance level: Easily select products suited to your analytical, performance or value needs

consumables
Micro-Dx™ CE IVD

Micro-Dx™ CE IVD by Molzym

Fully automated from sample to PCR analysis

Rapid identification of bacteria and fungi without time-consuming cultivation

DNA extraction kits
Greener Alternative Products

Greener Alternative Products by Merck Life Science

Sustainable laboratory products for environmentally conscious research

Over 2,500 ecological alternatives to reduce your laboratory footprint

consumables
Starlab product guide

Starlab product guide by STARLAB

From pipette tips to centrifuges - laboratory equipment for every need

Discover the Starlab product range now!

Ksep® Consumable Kits

Ksep® Consumable Kits by Sartorius

Ksep® Kits: Cell clarification and harvesting made easy

Automated solutions for higher yield and quality in bioprocessing

consumables
Sartobind® Rapid A

Sartobind® Rapid A by Sartorius

Efficient chromatography with disposable membranes

Increase productivity and reduce costs with fast cycle times

membranes
Consumables & Instruments

Consumables & Instruments by Azenta

Azenta's Sample Consumables and Instruments

Improve sample tracking, ensure sample integrity, and drive process efficiency

Loading...

Most read news

More news from our other portals

All FT-IR spectrometer manufacturers at a glance

See the theme worlds for related content

Topic World Chromatography

Chromatography enables us to separate, identify and thus understand complex substances. Whether in the food industry, pharmaceutical research or environmental analysis - chromatography opens up a treasure trove of information about the composition and quality of our samples. Discover the fascinating world of chromatography!

50+ products
10+ whitepaper
45+ brochures
View topic world
Topic World Chromatography

Topic World Chromatography

Chromatography enables us to separate, identify and thus understand complex substances. Whether in the food industry, pharmaceutical research or environmental analysis - chromatography opens up a treasure trove of information about the composition and quality of our samples. Discover the fascinating world of chromatography!

50+ products
10+ whitepaper
45+ brochures