Invitrogen (IVGN) and Applied Biosystems (ABI) Report Preliminary Results of Merger Election

November 20, 2008 9:04 AM EST

Invitrogen Corporation (NASDAQ: IVGN) and Applied Biosystems Inc. (NYSE: ABI) today announced the preliminary results of elections made by Applied Biosystems stockholders regarding their preferences as to the form of merger consideration they will receive in the pending acquisition of Applied Biosystems by Invitrogen. The election deadline for Applied Biosystems stockholders to have made merger consideration elections in connection with the proposed merger was 5:00 p.m., EST, on November 19, 2008.

Of the 172,504,949 shares of Applied Biosystems common stock outstanding as of November 19, 2008, holders of:

• 144,161,857 shares, or approximately 84% of outstanding shares, elected to receive cash;
  
• 4,465,325 shares, or approximately 2% of outstanding shares, elected to receive Invitrogen common stock;
  
• 12,300,710 shares, or approximately 7%, elected to receive mixed consideration consisting of part cash and part Invitrogen common stock; and
  
• 11,577,057 shares, or approximately 7%, did not make a valid election and therefore will be deemed to have elected to receive mixed consideration, entitling them to receive consideration consisting of part cash and part Invitrogen common stock.

Invitrogen Corporation engages in the development, manufacture, and marketing of research tools in reagent, kit, and applications forms for the life sciences research, drug discovery, and diagnostics customers, as well as biological products manufacturers.

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