Cholestech shareholders to decide Inverness merger on Sept. 12

By Lisa Kerner

Charlotte, N.C., Aug. 9 - Cholestech Corp. will hold a special meeting of stockholders on Sept. 12 for the purpose of approving the company's merger agreement with Inverness Medical Innovations, Inc. and its wholly owned subsidiary Iris Merger Sub, Inc.

Under the companies' June 4 agreement, each outstanding share of Cholestech common stock will be converted into the right to receive 0.43642 of a share of Inverness common stock. Inverness (Amex: IMA) closed at $49 on Aug. 9.

In addition, Cholestech stockholders will be asked to OK an adjournment of the meeting if needed in order to solicit additional proxies in favor of the deal, according to a 424B3 filing with the Securities and Exchange Commission.

Cholestech, located in Hayward, Calif., develops diagnostic tools for risk assessment and therapeutic monitoring of heart disease and inflammatory disorders.

Inverness is a diagnostic device developer based in Waltham, Mass.

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