Thermo Voltek Signs Merger Agreement With Thermedics

Thermo Voltek Corp. (Woburn, MA), has signed a definitive merger agreement with its parent company, Thermedics, Inc. (Woburn, MA). Under the terms of the agreement, Thermedics will acquire all of the outstanding shares of Thermo Voltek common stock that are not owned by Thermedics or Thermo Electron Corp. Each share will be purchased for $7.00 in cash. The merger agreement has been unanimously approved by Thermedics' board of directors, upon recommendation of the special committee comprising the company's independent directors.

Completion of the transaction is still subject to approval by holders of a majority of outstanding shares of common stock of Thermo Voltek. It must also be cleared by the Securities and Exchange Commission (SEC). Thermo Voltek expects to file its preliminary proxy materials with the SEC shortly.

Thermo Voltek Corp. designs, manufactures, and markets a range of power electronics, including radio frequency and microwave amplifiers, programmable power supplies, and high-voltage power supplies, for use in medical and commercial applications. The company also designs, manufactures, and markets instruments that test electronic systems and components. Thermo Voltek is a public subsidiary of Thermedics Inc., a Thermo Electron company.

For more information, call 781-938-3786.