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Document Preview Agreement and Plan of Merger |
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Title: |
Agreement and Plan of Merger |
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Entities: |
Credit Suisse First Boston Corp.; Invitrogen Corp.; Lehman Brothers Inc.; Life Technologies, Inc.; Gray Cary Ware & Freidenrich; Skadden, Arps, Slate, Meagher & Flom LLP; Wachtell, Lipton, Rosen & Katz; Dexter Corporation |
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Date: |
2000 |
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Size: |
Preview shows 6KB of 156KB total |
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Price: |
$56 |
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ID: |
#277552 |
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AGREEMENT AND PLAN OF MERGER
between
INVITROGEN CORPORATION
and
LIFE TECHNOLOGIES, INC.
Dated as of July 7, 2000
==============================================================================
{PAGE}
AGREEMENT AND PLAN OF MERGER, dated as of July 7, 2000 (the
"Agreement"), between INVITROGEN CORPORATION, a Delaware corporation (the
"Bidder"), and LIFE TECHNOLOGIES, INC., a Delaware corporation (the "Company").
WHEREAS, the Boards of Directors of the Bidder and the Company
and a special committee (the "Special Committee") of the Board of Directors of
the Company consisting of members of the Board of Directors who are "Continuing
Directors" as such term is defined in Article Eighth of the Certificate of
Incorporation of the Company deem it advisable and in the best interests of
their respective stockholders that the Company be merged with and into the
Bidder (the "Merger") upon the terms and subject to the conditions provided for
in this Agreement, whereby each outstanding share of common stock, par value
$0.01 per share, of the Company (the "Company Common Stock" or the "Shares")
will be converted into (i) shares of common stock, par value $.01 per share, of
the Bidder (the "Bidder Common Stock"), (ii) cash or (iii) a combination of
Bidder Common Stock and cash;
WHEREAS, immediately after the execution and delivery of this
Agreement, the Bidder is entering into an Agreement and Plan of Merger, dated as
of the date hereof (the "Dexter Merger Agreement"), between the Bidder and
Dexter Corporation, a Connecticut corporation ("Dexter"), pursuant to which
Dexter will be merged with and into the Bidder (the "Dexter Merger")
simultaneously with the Merger upon the terms and subject to the conditions set
forth in the Dexter Merger Agreement, whereby each share of common stock, par
value $1 per share, of Dexter will be converted into (i) shares of Bidder Common
Stock, (ii) cash or (iii) a combination of Bidder Common Stock and cash;
WHEREAS, the obligations of the parties hereto to consummate
this Agreement are expressly conditioned on the consummation of the transactions
contemplated by the Dexter Merger Agreement;
WHEREAS, for U.S. federal income tax purposes, it is intended
that the Merger and the Dexter Merger contemplated hereby shall each qualify as
a reorganization within the meaning of Section 368(a) of the Internal Revenue
Code of 1986, as amended (the "Code"), and that this Agreement shall be, and is
hereby, adopted as a plan of reorganization for purposes of Section 368 of the
Code; and
WHEREAS, the Boards of Directors of the Bidder and the Company
have each approved this Agreement and approved the Merger in accordance with the
General Corporation Law of the State of Delaware (the "DGCL"), and upon the
terms and conditions set forth in this Agreement.
{PAGE}
NOW, THEREFORE, in consideration of the representations,
warranties, covenants and agreements contained in this Agreement, and intending
to be legally bound hereby, the Bidder and the Company agree as follows:
ARTICLE I
THE MERGER
Section 1.1 THE MERGER. Upon the terms and subject to the
conditions set forth in this Agreement, and in accordance with the DGCL, at the
Effective Time the Company shall merge with and into the Bidder, and the
separate corporate existence of the Company shall thereupon cease, and the
Bidder shall be the surviving corporation in the Merger (the "Surviving
Corporation"). The Surviving Corporation shall possess all the rights,
privileges, powers and franchises of a public as well as of a private nature and
shall be subject to all of the restrictions, disabilities, duties, debts and
obligations of the Company and the Bidder, all as provided in the DGCL.
Section 1.2 CLOSING. The closing of the Merger (the "Closing")
will take place at 10:00 a.m. on a date to be specified by the parties (the
"Closing Date"), which shall be no later than the second business day after
satisfaction or waiver of the conditions set forth in Article V, unless another
time or date, or both, are agreed to by the parties hereto. The Closing will be
held at the offices of Skadden, Arps, Slate, Meagher & Flom LLP, Four Times
Square, New York, New York, unless another place is agreed to by the parties
hereto.
Section 1.3 EFFECTIVE TIME. Subject to the provisions of this
Agreement, on the Closing Date the parties shall file with the Secretary of
State of the State of Delaware a certificate of merger (the "Certificate of
Merger"), executed in accordance with the relevant provisions of the DGCL, and
shall make all other filings or recordings required under the DGCL in order to
effect the Merger. The Merger shall become effective upon the filing of the
Certificate of Merger or at such other time as is agreed by the parties hereto
and specified in the Certificate of Merger (the time at which the Merger becomes
fully effective being hereinafter referred to as the "Effective Time");
PROVIDED, that the Merger and the Dexter Merger shall occur simultaneously.
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