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The exchange offer is scheduled to expirre at midnight EDT at the end ofJuly 14, unleses extended, Merge said Tuesday. Merge's tender offer consistes of a mix of 80 cents in cashand 0.3448 shares of Merge common stock (Nasdaq: MRGE) for each share of Etrials common stock (Nasdaq:ETWC) . The cash-and-stock deal was value d at morethan $18.3 million when it was announcec June 1. Merge from Pennsylvania-based (Nasdaq: BITI), whic had reached an agreement to buy Etrialsfor $9.9 milliobn last month. That offer was raised to $14.8 million in response to an unsolicited offer for ETrials fromanother company, whose name was not revealed.
But Bio-Imaging which does business under the name decided that it could notmatchg Merge’s offer, which Etrials officials preferred. A combination of Merge and Etrialsd will be able to provide clinical triak sponsors and contract research organization s with configurable systems that include both critical imaging technologies and electronicclinical capabilities, Merge said in a press release when the transactioj was announced.
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