Bayer Acquires Visible Genetics Shares

Visible Genetics Inc. and Bayer Corporation entered into a merger agreement on July 23, 2002, under which Bayer agreed to acquire all Visible Genetics outstanding shares by way of a plan of arrangement for approximately US$61.4 million. The deal closed on October 11, 2002.

Bayer was represented by in-house counsel Julie Cheng. In Canada, Bayer was represented by Jeff Barnes, Will Fung and Ted Shoub (corporate/securities), Peter Cavanagh (litigation) and Randy Hughes, Susan Paul and Paul Sirkis (competition) of Fraser Milner Casgrain LLP. Monica Biringer and Alex Pankratz of Osler, Hoskin & Harcourt LLP advised Bayer on Canadian tax matters. Richard Cass, Van Ellis and Stephanie Evans of Wilmer, Cutler & Pickering in Washington represented Bayer in the U.S.

Visible Genetics was represented in-house by Marguerite Ethier, vice-president and general counsel. Jean Fraser, Randall Pratt and Mary Abbott (corporate), David Tetreault and Patrick Marley (tax), Peter Franklyn and Anne Carty (competition) and Larry Lowenstein and Laura Fric (litigation) of Osler, Hoskin & Harcourt represented Visible Genetics in Canada. Steven Pretsfelder, William Behr and Carl Van Demark of Brown Raysman Millstein Felder & Steiner LLP in New York represented Visible Genetics in the U.S.