Filer: Thermo Electron Corporation
Subject Company: Thermedics Inc.
Subject Company Exchange Act File No.: 1-9567
Registration Statement No.: 333-35982
PRESS RELEASE
Investor Contact: 781-622-1111
Media Contact: 781-622-1252
Thermo Electron Extends Exchange Offer for
Thermedics Shares to June 9, 2000
WALTHAM, Mass., May 30, 2000 - Thermo Electron Corporation (NYSE-TMO) announced
that it has extended the offer for Thermedics Inc. (ASE-TMD) common stock until
midnight on June 9, 2000. This extension is required because the Securities and
Exchange Commission (SEC) has not yet completed its review of Thermo Electron's
registration statement for the exchange offer. The company may not accept shares
of Thermedics common stock tendered in the exchange offer until the registration
statement is declared effective by the SEC. Other terms and conditions of the
exchange offer remain unchanged.
According to a preliminary report from the depositary for the exchange offer,
approximately 7.7 million shares of Thermedics common stock had been tendered
and not withdrawn pursuant to the exchange offer as of the close of business on
Friday, May 26, 2000. These shares represent approximately 18 percent of total
Thermedics shares outstanding, and when combined with shares held by Thermo
Electron, represent approximately 94 percent.
Because of the extension announced today, holders of Thermedics common stock may
tender or withdraw their shares until midnight on Friday, June 9, 2000, unless
the exchange offer is further extended. The exchange offer previously had been
scheduled to expire at midnight on May 26, 2000.
On May 1, 2000, Thermo Electron mailed a preliminary prospectus to registered
holders of Thermedics shares regarding the exchange offer and the merger,
accompanied by a letter of transmittal that Thermedics shareholders can use to
tender their shares in the exchange offer. Beneficial owners of Thermedics
shares holding in street name through their brokers can receive the preliminary
prospectus and letter of transmittal from their broker and should contact their
brokers for those documents. In any case, copies of the preliminary prospectus
and letter of transmittal may be requested from D.F. King & Co., Inc., the
information agent for the exchange offer, by calling (800) 290-6433.
Thermo Electron Corporation is a leading provider of analytical and monitoring
instruments used in a broad range of applications, from life sciences research
to telecommunications to food and beverage production. In addition, Thermo
Electron serves the healthcare market through a family of medical products, and
is a major producer of paper recycling systems and provides water-clarification
and fiber-recovery products and services. As announced on January 31, 2000, the
company has initiated a major reorganization that would transform it into one
company focused on its core measurement and detection instruments business. More
information is available on the Internet at http://www.thermo.com.
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Other Important Information:
We urge investors and security holders to read the following documents when they
become available, regarding the exchange offer and the merger described in this
announcement, because they contain important information:
Thermo Electron's preliminary prospectus, any prospectus supplement, final
prospectus, and other exchange offer materials.
Thermo Electron's registration statement on form S-4 and Schedule TO, as
amended, which contain or incorporate by reference the documents listed above
and other information.
Thermedics' solicitation/recommendation statement on schedule 14D-9.
These documents and amendments to these documents have been or will be filed
with the SEC. When these and other documents are filed with the SEC, they may be
obtained for free at the SEC's Web site at www.sec.gov. You may also obtain for
free each of these documents, when available, from us. You can call us at (781)
622-1111 or write to us at:
Investor Relations Department
Thermo Electron Corporation
81 Wyman Street, P.O. Box 9046
Waltham, MA 02454-9046
The following constitutes a "Safe Harbor" statement under the Private Securities
Litigation Reform Act of 1995: This press release contains forward-looking
statements that involve a number of risks and uncertainties. Important factors
that could cause actual results to differ materially from those indicated by
such forward-looking statements are set forth under the heading "Forward-Looking
Statements" in Exhibit 13 to the company's annual report on Form 10-K, for the
year ended January 1, 2000. These include risks and uncertainties relating to:
the company's corporate reorganization, acquisition strategy, growth strategy,
international operations, product development and technological change, possible
changes in governmental regulations, changes in both capital spending by
commercial customers and government funding policies, and dependence on
intellectual property rights.
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