Agfa/Sterling deal clears hurdles

April 28, 1999

Agfa’s proposed acquisition of Sterling Diagnostic Imaging received the go-ahead from regulatory authorities in the U.S. and Europe, the companies reported this month. Executives from the firms believe that the merger should be completed by the

Agfa’s proposed acquisition of Sterling Diagnostic Imaging received the go-ahead from regulatory authorities in the U.S. and Europe, the companies reported this month. Executives from the firms believe that the merger should be completed by the middle of May, pending shareholder approval (SCAN 1/20/99). Agfa’s spin-off from Bayer could come as soon as a month later, with Bayer setting a deadline of June 1 for the divestiture of its Mortsel, Belgium-based subsidiary, according to Bloomberg News.

Sterling of Greenville, SC, is also reportedly close to reaching a deal to sell off its Direct Radiography Corp. digital x-ray subsidiary, which is not part of the Agfa sale. Sources close to Sterling say that it has received bids from a number of prospective suitors for DRC, and plans to make a decision in the next several weeks.