Morgan Lewis Advises Safeguard Scientifics on $587 Million Sale of Clarient to GE Healthcare
news source:Press Releases
PHILADELPHIA, October 25, 2010: In a transaction valued at $587 million, Clarient, Inc. has agreed to be acquired by GE Healthcare, a unit of General Electric Company via a public tender offer for all outstanding common and preferred shares of Clarient at a price of $5.00 per common share and $20.00 per preferred share, payable in cash. Morgan Lewis advised Safeguard Scientifics, the holding company that owns 26% of Clarient and is expected to receive net sale proceeds of approximately $145 million out of the transaction.
The Morgan Lewis team was led by partner Richard Aldridge (M&A), along with partner David Sirignano (Securities), aided by associate Kevin Shmelzer.
For additional details on the transaction, please see Safeguard's press release.
Richard B. Aldridge, David A. Sirignano