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MedChem offer for Frigitronics

Executive Summary

In an unsolicited offer, Medchem is bidding approximately $80 mil. for 75% of Frigitronics. The MedChem proposal is contingent upon a number of factors, including an agreement with Frigitronics' two largest outside shareholders to swap their stock for MedChem shares. Frigitronics currently markets MedChem's hyaluronic acid for use in ophthalmic surgery.
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