Proposed merger of Hologic, Third Wave clears waiting period hurdle

By Lisa Kerner

Charlotte, N.C., June 25 - The Federal Trade Commission granted early termination of the Hart-Scott-Rodino waiting period in the pending merger of Hologic, Inc. and Third Wave Technologies, Inc.

Hologic began an $11.25-per-share tender offer for all of the outstanding shares of Third Wave common stock on June 18, according to a company news release.

The tender offer is set to end at midnight ET on July 16.

As previously reported, Hologic agreed to acquire Third Wave for $580 million in a bid to accelerate the growth of Hologic's diagnostics division.

Third Wave and Hologic expect to close the merger in the third quarter of 2008, a prior news release noted.

To finance the deal, Hologic announced it is borrowing $600 million in the form of a senior secured credit facility.

Hologic is a Bedford, Mass.-based medical technologies company.

Based in Madison, Wis., Third Wave develops molecular diagnostic reagents.

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