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Argonaut Technologies, Inc. Broadens Its Agreement to Sell Stock and Certain Assets to Biotage AB; Transaction Value Increases With the Addition of Assets of the Process Development Business.

Publication: PR Newswire
Publication Date: 18-MAR-05 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
REDWOOD CITY, Calif., March 17 /PRNewswire-FirstCall/ -- Argonaut Technologies , today announced it has amended its definitive agreement with Biotage AB (Stockholm: BIOTa.ST) of Uppsala, Sweden to increase the purchase price to $21.2 million in cash and to include the sale of certain assets (excluding receivables) and the assumption of specified liabilities, including warranty service and maintenance, and accounts payable of up to $350,000 associated with its remaining Process Development Products and Services. Under the amended agreement Biotage will also take on the employment responsibility for additional Argonaut employees associated with its Process Development Business. On February 21, 2005 the Company entered into a definitive agreement with Biotage AB...

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