|
New
Release -- Superconductor Week does not edit or endorse the following
news release: Intermagnetics'
Shareolders Approve Acquisition by Philips
Latham, NY, September 26: Intermagnetics
General Corporation
(Nasdaq:IMGC) announced that shareholders at a special meeting in New York
today approved the company's acquisition by Philips Holding USA, Inc., a
subsidiary of Royal Philips Electronics, N.V. (NYSE:
PHG, AEX: PHI). The merger was announced by Philips and Intermagnetics on
June 15, 2006.
Completion of the transaction remains subject to regulatory approval by the
European Commission, and to the satisfaction or waiver of other conditions and
terms of the merger agreement. The merger is expected to close during the fourth
quarter of calendar 2006.
Intermagnetics draws
on the financial strength, operational excellence and technical leadership in
the market of Magnetic Resonance Imaging (MRI), as well as its expanding
businesses within Medical Devices that encompass Invivo Diagnostic Imaging
(focusing on MRI components & imaging sub-systems) and Invivo Patient Care
(focusing on monitoring & other patient care devices). Intermagnetics is also a
prominent participant in superconducting applications for Energy Technology. The
company has a 35-year history as a successful developer, manufacturer and
marketer of superconducting materials, high-field magnets, medical systems &
components and other specialized high-value added devices.
About Royal Philips Electronics
Royal Philips Electronics of the Netherlands is one of the world's biggest
electronics companies and Europe's largest, with sales of $37.7 billion (EUR
30.4 billion) in 2005. With activities in the three interlocking domains of
healthcare, lifestyle and technology and 158,000 employees in more than 60
countries, it has market leadership positions in medical diagnostic imaging and
patient monitoring, color television sets, electric shavers, lighting and
silicon system solutions. News from Philips is located at
http://www.philips.com/newscenter.
Return
to industry news releases |
