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Merger of Hologic and Cytyc is complete
By Lisa Kerner
Charlotte, N.C., Oct. 22 - Hologic, Inc. and Cytyc Corp. completed their merger, combining to form "one of the largest companies in the world focused on advanced technology in women's health." Shareholders of both companies approved the merger at separate meetings on Thursday.
Hologic will continue to trade on the Nasdaq Global Select Market under the symbol "HOLX," while Cytyc, soon to be a wholly owned subsidiary of Hologic, ceased trading at the close of business on Monday.
Cytyc shareholders received 0.52 of a share of Hologic common stock and $16.50 in cash for each share of Cytyc common stock held. Total consideration paid to Cytyc shareholders was about $6.2 billion, payable in 65,800,000 shares of Hologic common stock and approximately $2.1 billion in cash.
"By combining our companies' complementary, best-in-class products and technologies, we expect to drive enhanced growth and value creation," Hologic chief executive officer Jack Cumming said in a company news release. "We are now focused on seamlessly integrating these two great companies and realizing the tremendous upside potential our combination creates."
"We look forward to joining our talented teams and working together to reach our shared goal of improving women's health," new chairman of Hologic and former chairman, president and CEO of Cytyc Patrick Sullivan added.
Hologic is a diagnostic and medical imaging company based in Bedford, Mass.
Cytyc is a medical device company based in Marlborough, Mass.
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