Inverness Medical Innovations (IMA) to Acquire Cholestech (CTEC)
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Inverness Medical Innovations, Inc. (Amex: IMA) and Cholestech Corporation (Nasdaq: CTEC) have entered into a definitive merger agreement pursuant to which Inverness will acquire Cholestech Corporation, in a stock for stock merger at a fixed exchange ratio of 0.43642 shares of Inverness common stock for each share of common stock of Cholestech.
The merger is conditioned upon approval by Cholestech's shareholders as well as the satisfaction of regulatory and other customary conditions. Approval by the shareholders of Inverness is not required. The transaction is structured as a tax-free reorganization and is expected to close during the fall of 2007.
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