Luminex Corporation Announces Agreement to Acquire Tm Bioscience
Luminex Corporation and Tm Bioscience Corporation announced a definitive agreement for Luminex to acquire Tm Bioscience Corporation. Under the terms of the agreement, each Tm Bioscience share will be exchanged for 0.06 shares of Luminex common stock. The per share consideration represents a 41.5 percent premium for Tm shares based on the closing price of a share of Tm common stock and Luminex common stock on December 14, 2006, the last trading day prior to the announcement of the acquisition. Upon completion of this transaction, Tm shareholders will own approximately 9 percent of Luminex outstanding common stock. Completion of the transaction is subject to the approval of Tm shareholders, required regulatory and court approvals, and certain other conditions set forth in the definitive agreement. The transaction is anticipated to close in the first quarter of 2007.
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