Nteg a good buy anymore?....
Nteg is not a great buy anymore unless you are looking to get into IMA at a discount.
Inverness to acquire Integ, take significant charge
NEW YORK, Oct 4 (Reuters) - Inverness Medical Technology Inc. (AMEX:IMA - news) said Wednesday it signed an agreement to acquire Integ Inc. (NasdaqNM:NTEG - news) and merge it into a unit of Inverness, in an effort to strengthen its diabetes glucose monitoring offerings.
The deal has an equity value of about $35 million, based on Tuesday's closing price for Inverness common stock and the number of shares of Integ common stock outstanding, according to S&P MarketScope. Each share of Integ common stock will be exchanged for about 0.187 share of Inverness common stock.
Under the terms of the deal, all of the issued and outstanding shares of Integ's common stock, options and warrants will be exchanged for 1.9 million common shares of Inverness.
The deal is slated to close near year-end. Inverness said it expects to take a ``significant'' charge for Integ's in-process research and development as well as consolidation costs to be incurred in connection with the merger.
Shares of Integ closed Tuesday at $2-3/8. Inverness closed at $18-13/16.
