Amicas Rejects $248M Rival Offer From Merge

Law360, New York (February 22, 2010, 5:57 PM EST) -- Radiology imaging software vendor Amicas Inc. on Monday rejected as risky a $248 million rival purchase offer from electronic records company Merge Healthcare Inc.

Boston-based Amicas agreed in December to be bought up by private equity firm Thoma Bravo LLC through a leveraged buyout worth $217 million, or $5.35 per share.

Milwaukee-based Merge made the rival offer during a “go-shop” period under Amicas and Thoma Bravo's merger agreement that allowed the Amicas board of directors to actively seek competing bids.

Although Merge's offer to purchase the...
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