Syncor, Cardinal Health extend termination date

AuntMinnie.com staff writers

Nov 24, 2002

Radiopharmaceutical developer Syncor International and Cardinal Health have agreed to extend the date by which each company may elect to terminate Dublin, OH-based Cardinal Health's acquisition bid. The amendment, which moves the date from December 31, 2002 to January 15, 2003, does not affect any other terms of the acquisition agreement, according to the companies. Syncor of Woodland Hills, CA, and Cardinal Health said they extended the date to allow for further discussions on possible modification of the agreement.

Cardinal’s proposed acquisition has been complicated by the revelation that one of Syncor’s overseas subsidiaries made "questionable payments" exceeding $500,000 to customers in Taiwan. The news has caused a sharp drop in Syncor’s stock price and has sparked a number of shareholder lawsuits.

By AuntMinnie.com staff writers
November 25, 2002
Related Reading

'Questionable payments' topped $500,000, Syncor says, November 21, 2002

Syncor expects 10-Q filing delay, November 13, 2002

Cardinal uncovers questionable Syncor payments, November 6, 2002

Syncor debuts radiation emergency kits, October 28, 2002

Syncor, MSU to offer PET cyclotron, October 2, 2002

Copyright © 2002 AuntMinnie.com

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