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Article: ISP Ups the Ante With Dexter In Life Technologies Standoff.
- Article from:
- Chemical Market Reporter
- Article date:
- May 17, 1999
- Author:
CopyrightCOPYRIGHT 1999 Schnell Publishing Company, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ISP aggressively takes a 5 percent stake in Dexter.
INTERNATIONAL SPECIALTY Products Inc., led by chairman and CEO Samuel J. Heyman who owns 76 percent of the company, has raised the stakes in its standoff with Dexter Corporation over control of Life Technologies Inc. by acquiring a 5 percent stake in Dexter in addition to its 14 percent stake in Life Technologies.
The battle over Life Technologies started last July, when Dexter announced it would seek to acquire the 48 percent of Life Technologies that it did not already own. Dexter offered $37 per share ($420 million).
"Our decision to acquire the balance of the Life Technologies shares ...