Bruker BioSciences Shareholders Approve Acquisition of Bruker Optics
3 July 2006
Bruker BioSciences Corporation announces after the Company’s Annual Meeting today that its shareholders have approved the acquisition of molecular spectroscopy company Bruker Optics Inc.
for $135 million, to be paid approximately 59% in cash and 41% in BRKR stock. The acquisition agreement had previously received unanimous approval by a Special Committee of independent directors of the Board of Directors of Bruker BioSciences, as well as by all independent directors, with the non-independent BRKR directors recusing themselves from the Board vote. The agreement had also been unanimously approved previously by the Board of Bruker Optics.
At today’s Annual Meeting all proposals were approved with overwhelming majorities by the Bruker BioSciences stockholders. In particular, the proposal requesting approval of stockholders for the acquisition of Bruker Optics was approved by a majority of greater than 99% of the BRKR shareholders not affiliated with the controlling shareholders of BRKR who voted at the Annual Meeting.
Frank Laukien, President and CEO of Bruker BioSciences, stated: “I am very pleased to receive this clear vote and mandate from our non-affiliated shareholders to move forward with the acquisition of Bruker Optics, which is now expected to close in early July 2006. Bruker Optics is a great addition to Bruker BioSciences and should allow us to expand our market reach, increase our critical mass and accelerate our drive to grow our profitability and cash flows. We welcome the Bruker Optics management team and the outstanding Bruker Optics staff worldwide to Bruker BioSciences.”