MDS Extends Cash Tender Offer for All Outstanding Shares of Molecular Devices Corporation

    TORONTO, March 14 /CNW/ - MDS Inc. (NYSE:  MDZ; TSX: MDS), a leading
provider of products and services to the global life sciences markets,
announced today that the initial expiration date for the cash tender offer for
outstanding shares of Molecular Devices Corporation by MDS's wholly-owned
subsidiary Monument Acquisition Corp., has been extended until 5:00 pm EDT on
March 19, 2007, unless further extended. The offer has been extended because
certain foreign regulatory conditions necessary to complete the pending
acquisition, which are in process, have not yet been satisfied. The Hart Scott
Rodino pre-merger waiting period has been satisfied and MDS continues to
expect the transaction to close within the next several weeks.
    On January 29, 2007, MDS Inc. announced that it had signed an agreement
to acquire Molecular Devices Corporation. On February 13, 2007, MDS initiated
a recommended cash tender offer for all outstanding common shares, par value
$0.001 of Molecular Devices at $35.50 per share, net to the seller in cash,
without interest.
    MDS also announced today that approximately 14,450,615 shares of
Molecular Devices had been validly tendered and not validly withdrawn as of
midnight EDT on March 13, 2007, representing approximately 87% of currently
issued and outstanding shares, or 76% of the outstanding shares of Molecular
Devices determined on a fully diluted basis including any unvested stock
options that would vest by their terms (assuming continued services) on or
before June 30, 2007, but disregarding any other unvested stock options and
other unvested rights to acquire shares.

    About MDS Inc.

    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 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 5,600 highly skilled people in 28 countries. Find out more at or by calling 1-888-MDS-7222, 24 hours a day.

    About Molecular Devices Corporation

    Molecular Devices Corporation is a leading supplier of high-performance
bioanalytical measurement systems that accelerate and improve drug discovery
and other life sciences research. Our systems and consumables enable
pharmaceutical and biotechnology companies to leverage advances in genomics,
proteomics and parallel chemistry by facilitating the high-throughput and
cost-effective identification and evaluation of drug candidates. Our solutions
are based on our advanced core technologies that integrate our expertise in
engineering, molecular and cell biology, and chemistry. We enable our
customers to improve research productivity and effectiveness, which ultimately
accelerates the complex process of discovering and developing new drugs.

    Legal Statements

    This announcement is not an offer to purchase Shares or a solicitation of
an offer to sell Shares. The Offer is being made solely by the Offer to
Purchase and the related Letter of Transmittal. The Offer to Purchase dated
February 13, 2007, as amended, the Letter of Transmittal and related materials
may be obtained free of charge by directing such requests to MacKenzie
Partners, Inc., 105 Madison Avenue, New York, NY 10016, or by calling
MacKenzie Partners, Inc. toll free at (800) 322-2885.
    Investors and stockholders of Molecular Devices should read the Tender
Offer Statement on Schedule TO, as amended, the Offer to Purchase and any
other documents relating to the Offer that are filed with the United States
Securities and Exchange Commission ("SEC") because they contain important
information about the tender offer. Investors and stockholders of Molecular
Devices may obtain these and other documents filed by MDS, the Purchaser and
Molecular Devices for free from the SEC's web site at


    This press release contains forward-looking statements. Some
forward-looking statements may be identified by words like "expects",
"anticipates", "plans", "intends", "indicates" or similar expressions. The
statements are not a guarantee of future performance and are inherently
subject to risks and uncertainties, including risks to both companies that the
acquisition of Molecular Devices will not be consummated as the transaction is
subject to certain closing conditions, if the transaction is consummated,
there will be risks and uncertainties related to MDS' ability to successfully
integrate the two companies. MDS' and Molecular Devices' actual results could
differ materially from those currently anticipated due to these risks and a
number of other factors, including, but not limited to, successful integration
of structural changes, including restructuring plans, acquisitions, technical
or manufacturing or distribution issues, the competitive environment for the
respective products of MDS and Molecular Devices, the development of new
products, the degree of market penetration of the respective products of MDS
and Molecular Devices, and other factors set forth in reports and other
documents filed by MDS and Molecular Devices with Canadian regulatory
authorities and the U.S. Securities and Exchange Commission from time to time.
Molecular Devices and MDS are under no obligation to (and expressly disclaim
any such obligation to) update or alter their forward-looking statements
whether as a result of new information, future events or otherwise.

For further information:

For further information: Investors: Sharon Mathers, Vice-President,
Investor Relations and External Communications, MDS Inc., (416) 675-6777 x
34721,; Media: Catherine Melville, Director,
External Communications, MDS Inc., (416) 675-6777 x 32265,

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