BOSTON,
Nov. 1, Liberty Financial Companies, Inc. (NYSE:L)
announced that its shareholders have approved and adopted
three proposed transactions: to sell Liberty Financial's annuity
and bank marketing businesses to Sun Life Financial, to sell
its asset management business to FleetBoston Financial and
to enter into a merger agreement with Liberty Financial's
controlling stockholder, Liberty Mutual Insurance Company.
HOUSTON,
Nov. 1, HCC Insurance Holdings, Inc. (NYSE: HCC) announced
that the company had completed its previously announced
acquisition of ASU International, Inc., located in
Woburn, MA. ASU is an underwriting agency focusing on specialty
lines of insurance, being especially noted for pioneering
non-traditional disability products for professional athletes,
entertainers and high profile individuals in the business
world. HCC is principally engaged in providing aviation,
marine, offshore energy, property, accident and health,
and lenders single interest insurance and reinsurance on
a worldwide basis.
ANDOVER,
Nov. 1, MKS Instruments, Inc. (Nasdaq: MKSI) announced
that it has entered into a definitive agreement to acquire
the ENI division of Emerson (NYSE: EMR). Under the terms
of the agreement, MKS will issue 12 million shares of common
stock to Emerson in exchange for the businesses and assets
of ENI. Based on MKS' closing stock price on October 30,
2001 of $20.91, the transaction is valued at $251 million.
MKS will also assume approximately $3.5 million of net debt.
ENI, based in Rochester, NY, employs more than 600 people
worldwide. MKS Instruments develops, manufactures and markets
instruments and components used to measure, control and
analyze gases in semiconductor manufacturing and similar
industrial manufacturing processes.
BEDFORD,
Nov. 6, Applied Biosystems Group (NYSE:ABI), an Applera
Corporation business, announced that it has acquired Boston
Probes, Inc., a privately-held company focused on development
of peptide nucleic acid (PNA) probe technology. Applied
Biosystems previously acquired 13 percent of Boston Probes
in June 2000. In the agreement, the company has acquired
the remaining 87 percent of the outstanding shares of Boston
Probes and all of the outstanding shares of PNA-Diagnostics
A/S, a privately-held Danish company, for $32.8 million
in cash. PNA-Diagnostics holds certain intellectual property
rights related to peptide nucleic acids. Boston Probes,
based in Bedford, MA, has developed chemistry platforms
based on its PNA technology.
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