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| PKI > SEC Filings for PKI > Form 8-K on 4-Sep-2009 | All Recent SEC Filings |
4-Sep-2009
Entry into a Material Definitive Agreement
On June 12, 2009, PerkinElmer IVD Pte. Ltd. ("PKI Singapore"), a Singapore subsidiary of PerkinElmer, Inc. ("PerkinElmer") entered into an agreement with the shareholders of Shanghai Sym-Bio LifeSciences Co., Ltd. ("Sym-Bio") under which PKI Singapore plans to acquire all of the outstanding equity interests of Sym-Bio, a leading Chinese diagnostic product company.
The equity transfer agreement by and between PKI Singapore and the shareholders of Sym-Bio (the "Agreement") provides for the acquisition of all the outstanding equity interests in Sym-Bio by PKI Singapore in exchange for payment of cash consideration of RMB 435.0 million. Payment of the consideration is subject to the establishment of escrow accounts to secure potential claims under the Agreement. PerkinElmer is also party to the Agreement solely as a guarantor with respect to PKI Singapore's obligations under the Agreement.
The Agreement contains representations, warranties and covenants as to the parties' business, financial and legal obligations and provides for indemnification by each of the parties in the event of, among other things, a breach of such representations.
The transaction is subject to regulatory approvals and other customary closing conditions, but is expected to be completed in the third quarter of 2009.
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