My Favorite Stock

[Bottomfeeder 244]

Royal Philips to Acquire Intermagnetics General for $1.3 Bln

June 15 (Bloomberg) -- Royal Philips Electronics NV, the world's largest maker of patient monitoring systems, agreed to acquire Intermagnetics General Corp. for $1.3 billion as the company expands its medical division.

Philips will pay $27.50 for each share of Intermagnetics, the Amsterdam-based company said today in an e-mailed statement. The Latham, New York-based company makes superconducting magnets used in magnetic resonance imaging, or MRI, systems.

Shares of Intermagnetics closed at $21.38 yesterday, valuing the company at $906 million.

IMGC (INTERMAGNETICS GENERAL CORPORATION )

Google Finance Yahoo Finance MSN Money MarketWatch CNN Money Reuters

21.38 14 Jun at 4:00PM ET

Open: N/A

High: N/A

Low: N/A

Volume: 12,000

Avg Vol: 511,000

Mkt Cap: 906.15M

Nasdaq data delayed by 15 minutes - Disclaimer

Real-Time ECN: 27.01 +5.63 (26.33%) 15 Jun at 8:23AM