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GE Healthcare, a unit of General Electric Co. said Friday it started a cash tender offer to purchase all outstanding shares of common and preferred stock of diagnostic services company Clarient Inc.
On Oct. 22, the GE said it would buy Clarient for about $570 million in a cash tender offer.
Upon the successful closing of the tender offer, Clarient shareholders will receive $5 per share for each share of common stock and $20 in cash for each share of Clairent Series A convertible preferred stock.
The tender offer will expire Dec. 6.
Shares of GE rose 22 cents to $16.73 in afternoon trading. Clarient shares lost a penny at $4.98.