Bruker BioSciences Shareholders Approve Acquisition of Bruker Optics; Combined Company to Be a Leading Provider of Molecular Analysis Solutions to the Life Science, Materials Research, Homeland Security and Industrial Markets BILLERICA, Mass.--(BUSINESS WIRE)--June 29, 2006--Bruker
BioSciences Corporation (NASDAQ: BRKR) announces after the Company's
Annual Meeting today that its shareholders have approved the
acquisition of molecular spectroscopy company Bruker Optics Inc. for
$135 million, to be paid approximately 59% in cash and 41% in BRKR
stock. The acquisition agreement had previously received unanimous
approval by a Special Committee of independent directors of the Board
of Directors of Bruker BioSciences, as well as by all independent
directors, with the non-independent BRKR directors recusing themselves
from the Board vote. The agreement had also been unanimously approved
previously by the Board of Bruker Optics.
At today's Annual Meeting all proposals were approved with
overwhelming majorities by the Bruker BioSciences stockholders. In
particular, the proposal requesting approval of stockholders for the
acquisition of Bruker Optics was approved by a majority of greater
than 99% of the BRKR shareholders not affiliated with the controlling
shareholders of BRKR who voted at the Annual Meeting.
Frank Laukien, President and CEO of Bruker BioSciences, stated: "I
am very pleased to receive this clear vote and mandate from our
non-affiliated shareholders to move forward with the acquisition of
Bruker Optics, which is now expected to close in early July 2006.
Bruker Optics is a great addition to Bruker BioSciences and should
allow us to expand our market reach, increase our critical mass and
accelerate our drive to grow our profitability and cash flows. We
welcome the Bruker Optics management team and the outstanding Bruker
Optics staff worldwide to Bruker BioSciences."
ABOUT BRUKER BIOSCIENCES (NASDAQ: BRKR)
Bruker BioSciences Corporation in Billerica, Massachusetts, is the
parent company of Bruker Daltonics Inc. and Bruker AXS Inc. Bruker AXS
is a leading developer and provider of life science, materials
research and industrial X-ray analysis tools. Bruker Daltonics is a
leading developer and provider of innovative life science tools based
on mass spectrometry, and also offers a broad line of nuclear,
biological and chemical (NBC) detection products for homeland
security. For more information, please visit
www.bruker-biosciences.com
CAUTIONARY STATEMENT OF BRUKER BIOSCIENCES
Any statements contained in this press release that do not
describe historical facts may constitute forward-looking statements as
that term is defined in the Private Securities Litigation Reform Act
of 1995. Any forward-looking statements contained herein are based on
current expectations, but are subject to a number of risks and
uncertainties. The factors that could cause actual future results to
differ materially from current expectations include, but are not
limited to, risks and uncertainties relating to the Company's
reorganization strategies, integration risks, failure of conditions,
technological approaches, product development, market acceptance, cost
and pricing of the Company's products, changes in governmental
regulations, capital spending and government funding policies, FDA and
other regulatory approvals to the extent applicable, competition, the
intellectual property of others, patent protection and litigation.
These and other factors are identified and described in more detail in
our filings with the SEC, including, without limitation, our
respective annual reports on Form 10-K, our most recent quarterly
reports on Form 10-Q, and our current reports on Form 8-K. We disclaim
any intent or obligation to update these forward-looking statements.
CONTACT: Bruker BioSciences Corporation
Michael Willett, 978-663-3660, ext. 1411
Investor Relations Officer
ir@bruker-biosciences.com
SOURCE: Bruker BioSciences Corporation
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