Premier Laser Deal
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IRVINE — Premier Laser Systems Inc. boosted its stake in Ophthalmic Imaging Systems to 51% from 29.5% and agreed to launch a tender offer for all remaining shares.
Ophthalmic Imaging directors unanimously approved the transaction and recommended that shareholders accept Premier’s offer.
Premier Laser said it plans to begin the tender offer for the rest of Ophthalmic within five business days. The Irvine-based maker of medical lasers and other medical and dental products plans to offer $1.75 in cash, 25 cents worth of Premier stock and two warrants for each share of Ophthalmic, a Sacramento-based maker of diagnostic digital imaging systems.
The warrants allow holders to acquire 25 cents worth of stock for a nominal purchase price if Ophthalmic Imaging meets certain future revenue goals.
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