NEW YORK (Thomson Financial) - Applera Corp. Friday said its board has
formally approved the proposed separation of the Celera Group from Applera's
remaining businesses.
To complete the separation, each outstanding share of Celera Group tracking
stock will be redeemed in exchange for one share of Celera Corp. common stock.
Upon completion of the separation, Celera Corp. will hold all the businesses,
assets and liabilities attributed to Celera Group and will be an independent,
publicly-traded company listed on the Nasdaq.
The separation is expected to be complete on July 1.
Applera shares closed at $33.76 on Thursday. Celera tracking shares closed
at $12.58.
Christie Rizk
cr/pc
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