My watch list  

Argonaut Technologies, Inc. Broadens Its Agreement to Sell Stock and Certain Assets to Biotage AB


Argonaut Technologies announced it has amended its definitive agreement with Biotage AB to increase the purchase price to $21.2 million in cash and to include the sale of certain assets (excluding receivables) and the assumption of specified liabilities, including warranty service and maintenance, and accounts payable of up to $350,000 associated with its remaining Process Development Products and Services.

Under the amended agreement Biotage will also take on the employment responsibility for additional Argonaut employees associated with its Process Development Business. On February 21, 2005 the Company entered into a definitive agreement with Biotage AB under which Argonaut Technologies agreed to sell stock and certain assets of its consumables and flash chromatography business for approximately $19.9 million in cash.

The Company will file an amended proxy statement to reflect the new terms and conditions. The agreement with Biotage AB was amended in response to an unsolicited proposal from a third party.

The agreement is part of Argonaut's ongoing effort announced in November 2004 to evaluate and pursue strategic alternatives. Argonaut Technologies intends to distribute a significant portion of the net proceeds received in the sale to stockholders promptly after the closing of the transaction, which is subject to stockholder approval and other customary closing conditions. Argonaut Technologies expects that the stockholder meeting to approve this sale will be held during the second quarter of 2005.

Facts, background information, dossiers
More about Biotage
  • News

    Tomas Blomquist: New CEO & President of Biotage

    Biotage has appointed Tomas Blomquist as the new CEO and President of Biotage AB. Tomas Blomquist, most recently Vice President EMEA Cardimetabolic at Abbott, will start his assignment on November 6, 2019, and will then take over the responsibility for the Biotage group and its + 400 employ ... more

    Biotage acquires PhyNexus

    Biotage AB has entered into an agreement to acquire all outstanding shares in the privately held company PhyNexus, Inc. (PhyNexus) based in California, US, for a total purchase price of approx. USD 21.5 million  financed through a combination of newly issued shares in Biotage and existing c ... more

    Biotage acquires Horizon Technology

    Biotage AB has entered into an agreement to acquire all outstanding shares in the privately held company Horizon Technology, Inc. (Horizon) based in New Hampshire, US, at a purchase price of approx. USD 18.4 million, corresponding to approx. SEK 153 million, based on an enterprise value of ... more

More about Argonaut Technologies
  • News

    Biotage acquires Argonaut Technologies Consumable Division

    Biotage acquires the Consumable Division of the US company Argonaut Technologies Inc. Through the acquisition, Biotage strengthens its position in Medicinal Chemistry and gives the company a complete product portfolio of Microwave Synthesis, Cleanup and Purification Systems and Consumables, ... more

Your browser is not current. Microsoft Internet Explorer 6.0 does not support some functions on Chemie.DE