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AMICAS Files Amended Proxy Materials; Confirms Receipt Of Highly-Conditional Acquisition Proposal From Merge Healthcare - Quick Facts

2/22/2010 8:21 AM ET
AMICAS Inc. (AMCS) filed amended proxy materials with the Securities and Exchange Commission or "SEC" disclosing that it has received an unsolicited proposal from Merge Healthcare Inc. (MRGE) under which Merge would seek to acquire all of the outstanding shares of AMICAS for $6.05 per share in cash.

Also, the company noted that Merge's highly-conditional proposal is dependent on third-party financing, subject to a "reverse break" fee, which essentially gives Merge a $10 million "option" to purchase AMICAS; subject to a number of additional conditions, the satisfaction of which are within Merge's control, and has been characterized as Merge's "best and final" proposal.

Meanwhile, AMICAS' board believes that the Merge proposal is illusory and risky to AMICAS stockholders.
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