CTI Molecular Imaging, Inc. Postpones Annual Meeting Due to Recently Announced Tender Offer
12 April 2005 - 2:53AM
PR Newswire (US)
CTI Molecular Imaging, Inc. Postpones Annual Meeting Due to
Recently Announced Tender Offer KNOXVILLE, Tenn., April 11
/PRNewswire-FirstCall/ -- CTI Molecular Imaging, Inc. (NASDAQ:CTMI)
announced today that its annual meeting of stockholders scheduled
for April 26, 2005 will be postponed indefinitely due to the
recently announced Agreement and Plan of Merger, dated March 18,
2005, among Siemens Medical Solutions USA, Inc., MI Merger Co. and
CTI Molecular Imaging, Inc. Pursuant to the Agreement and Plan of
Merger, Siemens Medical Solutions USA, Inc., through its wholly
owned subsidiary MI Merger Co., recently commenced a tender offer
for all of the outstanding shares of common stock of CTI Molecular
Imaging, Inc. for $20.50 per share, net to the seller in cash.
Following completion of the tender offer, any remaining shares of
CTI Molecular Imaging, Inc. will be acquired in a merger at the
same price. Accordingly, the annual meeting of stockholders of CTI
Molecular Imaging, Inc. scheduled for April 26, 2005 will be
postponed indefinitely while the tender offer and merger are
pending and will be canceled upon the successful completion of such
transactions. About CTI Molecular Imaging: CTI Molecular Imaging,
Inc. is a leading supplier of products and services for positron
emission tomography (PET), a diagnostic imaging technology used in
the detection and treatment of cancer, neurological disorders and
cardiac disease. Additional information is available at:
http://www.ctimi.com/ . This announcement does not constitute an
offer to purchase nor a solicitation of an offer to sell any
securities. Any offers to purchase or solicitation of offers to
sell will be made only pursuant to a tender offer statement and a
solicitation and recommendation statement filed with the Securities
and Exchange Commission. The tender offer statement (including an
offer to purchase, a letter of transmittal and other offer
documents) and the solicitation/recommendation statement contain
important information and should be read carefully before any
decision is made with respect to the tender offer. Those materials
have been or will be made available to all stockholders of CTI at
no expense to them. In addition, all of those materials (and all
other offer documents filed with the SEC) are available at no
charge on the SEC's web site ( http://www.sec.gov/ ). Georgeson
Shareholder Communications will be serving as Information Agent for
the tender offer, and CTI stockholders wishing to receive copies of
the Offer to Purchase and other tender offer materials may contact
Georgeson at (212) 440-9800 or toll-free at (800) 676-0216. Mellon
Investor Services LLC will be serving as Depositary for the tender
offer. This document contains forward-looking statements about CTI
Molecular Imaging, Inc., including statements regarding the
successful completion of the tender offer and merger. All
forward-looking statements involve risks, uncertainties and
contingencies, many of which are beyond the ability of CTI to
control, which may cause actual results, performance, or
achievements to differ materially from anticipated results,
performance, or achievements. All statements contained in this
document that are not clearly historical in nature or that
necessarily depend on future events are forward-looking, and the
words "anticipate," "believe," "expect," "estimate," "plan," and
similar expressions are generally intended to identify
forward-looking statements. Economic, business, funding market,
competitive and/or regulatory factors, among others, affecting
CTI's business are examples of factors that could cause actual
results to differ materially from those described in the forward-
looking statements. Further information regarding risks,
uncertainties and other factors that could adversely affect CTI or
cause actual results to differ materially from those anticipated in
forward-looking statements are included in CTI's Annual Report on
Form 10-K for the fiscal year ended September 30, 2004 and its
Quarterly Report on Form 10-Q for the fiscal quarter ended December
31, 2004. Except as may be required by law, CTI assumes no
responsibility for updating any forward-looking statements, whether
as a result of new information, future events or otherwise.
DATASOURCE: CTI Molecular Imaging, Inc. CONTACT: David N. Gill of
CTI Molecular Imaging, Inc., +1-865-218-2000 Web site:
http://www.ctimi.com/
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