THREE FIRMS INVOLVED IN TALKS TO ACQUIRE VISION SYSTEMS

Medical technology firm Danaher and software systems manufacturer Ventana are engaged in discussions on a possible joint acquisition of medical technology firm Vision Systems, the Australian Stock Exchange said Oct. 2.

Vision Systems shareholders rejected a Sept. 29 offer of $3.25 (Australian dollars) per share from Cytyc, a device firm focused on women's health, but Vision Systems said it will recommend the Cytyc offer if Danaher and Ventana do not make a better offer within a reasonable time frame.

Cytyc's increased cash offer is worth $517 million (U.S. dollars) and represents an increase of 53 percent over a Ventana proposal to merge with Vision Systems, Cytyc said Sept. 29.

Cytyc's offer will also not be subject to any regulatory risks, including antitrust concerns, which "is likely with Ventana's proposal," Cytyc said. Cytyc's offer will not be affected by any current or future litigation from Ventana, the firm added.