MDS Files Management Proxy Circular
24 September 2009 - 2:00PM
PR Newswire (US)
Board Unanimously Recommends Shareholders Approve the Sale of MDS
Analytical Technologies TORONTO, Sept. 24 /PRNewswire-FirstCall/ --
MDS Inc. (TSX: MDS; NYSE: MDZ), a leading provider of products and
services to the global life sciences markets, today announced that
the Management Proxy Circular related to the previously disclosed
sale of its MDS Analytical Technologies to Danaher Corporation
(NYSE:DHR) is being mailed today to shareholders of record as of
September 14, 2009. A Special Meeting of Shareholders will be held
on October 20, 2009 at 4 p.m. EDT at the Toronto Congress Centre to
seek approval of the sale. The Management Proxy Circular contains
important information about MDS Inc. and the sale, as well as
information related to voting procedures at the Special Meeting of
Shareholders. A copy of the Management Proxy Circular will also be
filed today with the Canadian Securities Administrators and the
U.S. Securities and Exchange Commission, and will be available on
their respective Websites at http://www.sedar.com/ or
http://www.sec.gov/edgar.shtml, and at the Company's Website at
http://www.mdsinc.com/. Shareholders are urged to read the
Management Proxy Circular in its entirety. The purchase price to be
paid to MDS Inc. for the sale of its MDS Analytical Technologies
business is $650 million in cash, subject to adjustments, and the
Company currently intends to return approximately $400 million to
$450 million of the sale proceeds to its shareholders by way of a
share buyback through a Substantial Issuer Bid. Completion of the
sale is subject to shareholder and regulatory approval, and other
closing conditions. The MDS Inc. Board of Directors believes the
sale, which was announced on September 2, 2009, is in the best
interests of the Company and its shareholders. The Board
unanimously recommends that shareholders vote in favor of the sale.
About MDS MDS Inc. (TSX: MDS; NYSE: MDZ) is a global life sciences
company that provides market-leading products and services that our
customers need for the development of drugs, and the diagnosis and
treatment of disease. We are a leading global provider of
pharmaceutical contract research, medical isotopes for molecular
imaging, radiotherapeutics, and analytical instruments. MDS has
more than 4,200 highly skilled people in 13 countries. Find out
more at http://www.mdsinc.com/ or by calling 1-888-MDS-7222, 24
hours a day. DATASOURCE: MDS Inc. CONTACT: MEDIA: Janet Ko, (905)
267-4226, ; INVESTORS: Peter Dans, (905) 267-4230,
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