GE takeover of IDX gets go-ahead

9 November 2005

The $1.3bn takeover of US healthcare information technology company IDX by GE Healthcare has been given the go-ahead by US antitrust authorities, according to Reuters.

A group of IDX shareholders, however, has served the company with a  purported shareholder class action lawsuit against IDX and certain of its officers and directors. The complaint was filed on October 24, 2005 in Vermont Superior Court, Chittenden County, and challenges the price of and the process leading to IDX’s previously announced merger agreement with General Electric Company and a GE subsidiary.

“We believe the allegations are without merit. We adhered to a comprehensive and rigorous review of strategic alternatives and firmly believe that the transaction with GE is in the best interests of IDX and its shareholders. This type of legal action is not uncommon and we intend to vigorously defend ourselves. We have no reason to believe that this lawsuit will affect the close of the transaction,” said James H. Crook, Jr., Chief Executive Officer of IDX.


To top

To top