Systemix close-out offer from Novartis calls for $76 mil. payment for 3.9 mil. shares.
SYSTEMIX AGREES TO NOVARTIS BUYOUT FOR $76 MIL. after rejecting a previous offer by Sandoz (now Novartis) to pay $66 mil. for the 27% of Systemix it does not already own. Sandoz originally offered to acquire the remaining 3.9 mil. shares of outstanding Systemix stock for $17 per share on May 23 ("The Pink Sheet" May 27, 1996, In Brief). Systemix' independent directors rejected the offer in October. The new offer, accepted by the Systemix board, would pay $19.50 per share.
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