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Article: 2 Directors Leave Life Technologies
- Article from:
- The Washington Post
- Article date:
- November 6, 1998
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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Life Technologies Inc. of Rockville said two directors
resigned Tuesday, shortly after Dexter Corp. made an unsolicited
$37-a-share offer to buy the 48 percent of the firm it does not
already own.
The directors, Frank Samuel and Iain Wylie, were on a special
committee that advised Life Technologies' full board to reject
Dexter's earlier offer, also for $37 a share. A majority of the
board is affiliated with Dexter; Samuel and Wylie are not.
Samuel and Wylie could not be located last night for comment.
A Dexter document filed with the Securities and Exchange Commission
suggested that Wylie and Samuel share the views of some minority
shareholders who consider the $37 offer too low. ...