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Fujifilm begins tender offer for SonoSite

by Brendon Nafziger, DOTmed News Associate Editor | January 17, 2012
Fujifilm Holdings Corp. has taken another step forward to complete its nearly $1 billion deal to buy bedside ultrasound maker SonoSite Inc.

On Tuesday, the company said it began its tender offer through a U.S. subsidiary to buy up all outstanding shares of SonoSite, Inc. for $54 a share, a proposal previously announced on Dec. 15.

The tender offer, which expires Feb. 15, is dependent on Fujifilm nabbing the majority of SonoSite's outstanding shares as well as other normal closing conditions, the company said. Once the tender offer wraps up, Fujifilm said it would acquire the remaining outstanding stock through a second-step merger.

SonoSite's board of directors has unanimously approved the deal, valued at about $995 million, Fujifilm said.

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