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Newtown, Pa.-based Bio Imaging (Nasdaq: BITI), which does businessz under the name is now offeringa stock-and-casb package to buy shares of Etrials (Nasdaq: for $1.35 each. The previoues offer valued each Etrials share at91 cents. The companiee pegged the total valure of the original offer atabout $10 million. Basedx on that and the 48 percent increase inthe per-shars offer announced Wednesday, the total value of the deal now would amount to almos $15 million. The change in the tendet offer, which is to expire June 20, comese in the cash which jumped to 62 cents a shar from 15 centsa share.
The stocm component of the offer, which includes the issuing of new commo andpreferred Bio-Imaging stock to Etrials is unchanged. The news release issuesd Wednesday said that 33 percent of Etrialws shareholders already have agreed to tender thei shares and vote in favorf of themerger agreement, if such a vote is Etrials, which has 100 employees, provides softwar e used by drug companies and contrac t research organizations in the running of clinical BioClinica, which has 450 also provides clinical trial services, including the management of medical
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