Invitrogen and Applied Biosystems Complete Merger
Combined Company, Called Life Technologies Corporation, is a Global Leader in Biotechnology Reagents and Systems
Invitrogen Corporation and Applied Biosystems Inc. announced the successful completion of their merger transaction. The new company will be named Life Technologies Corporation and is traded on the NASDAQ Global Select Market under the ticker symbol "LIFE" beginning November 24, 2008.
“This is an exciting time in the history of Invitrogen and Applied Biosystems,” said Greg Lucier, Chairman and Chief Executive Officer of Life Technologies. “By combining these two highly respected brands, we are not only creating a stronger company, but an industry thought leader, uniquely positioned to help our customers accelerate and drive new discoveries and commercial applications.
Preliminary results of elections made by Applied Biosystems stockholders regarding their preferences as to the form of merger consideration were announced on November 20, 2008. The majority of Applied Biosystems stockholders elected to receive their consideration in the form of all cash. As a result, those stockholders who have elected to receive the cash consideration will receive slightly more cash and slightly fewer shares than they would have received if they had elected the mixed consideration. The company expects to have final election results and pro-rated disbursement figures determined by November 28, 2008, at which time the company will make an announcement with such figures. Disbursements of proceeds are expected to be made no later than the first week of December.
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