InVision opens eyes to GE offer

SSN Staff  - 
Thursday, July 1, 2004

July 1, 2004

NEWARK, Calif. - InVision’s shareholders have voted to approve the company’s acquisition by General Electric in late June, moving the closing date of the transaction up to July 15.
It’s been a rocky road for the proposed partnership since InVision announced in March that GE agreed to acquire the explosive detection manufacturer in an all-cash transaction valued at approximately $900 million. Two days after the announcement, the Securities and Exchange Commission began investigating alleged insider trading on InVision’s stock. InVision also faced a lawsuit alleging the board of directors failed to obtain the highest price possible for the company, although the lawsuit is in the process of being settled.
With the shareholder’s approval, the acquisition is moving forward - although it still remains subject to closing conditions and regulatory approval.