XML 44 R31.htm IDEA: XBRL DOCUMENT v3.3.1.900
SUBSEQUENT EVENTS
12 Months Ended
Dec. 31, 2015
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS
On January 8, 2016, the Company entered into a Merger Agreement with Thermo Fisher and Merger Sub, providing for, subject to the satisfaction or waiver of specified conditions, the acquisition of the Company by Thermo Fisher at a price of $14.00 per share in cash. Subject to the terms and conditions of the Merger Agreement, the closing of the merger is expected to occur during the second quarter of 2016.
In November 2015, the Company amended its Change of Control Policy and Executive Severance Policy as part of its periodic review of practices in compensation matters, which will be triggered upon the closing of the merger.
Upon termination of the Merger Agreement under certain circumstances, the Company may be obligated to pay Thermo Fisher a termination fee of $55.0 million.