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DURHAM -- Trimeris Inc., a biopharmaceutical company in Durham, announced Monday it is being acquired by South Korea-based Arigene Co. Ltd. for more than $81 million.
Arigene agreed to acquire Trimeris through a cash tender offer of $3.60 per share, followed by a merger to acquire all remaining outstanding Trimeris shares at the same price per share paid in the tender offer.
The offer represents a 55 percent premium to Trimeris' average stock price over the past three months and about a 40 percent premium to the closing price of Trimeris' common stock on Oct. 1.
Stockholders of Trimeris representing approximately 36 percent of shares outstanding have executed voting agreements in support of the transaction.
The transaction has been approved by the boards of directors of Trimeris and Arigene, with the deal expected to close by the end of the year.
Trimeris executives did not respond to requests for comment on Monday.
PocketGear gets Samsung deal
DURHAM -- PocketGear Inc. in downtown Durham has been selected by Samsung Telecommunications America to power the Samsung Widget Store.
"Through our alliance with PocketGear, we are able to provide carriers and developers with a simple way to create and distribute dynamic TouchWiz applications while providing consumers with an easy to use on-device experience to discover and access them," said Omar Khan, senior vice president of strategy and product management with Samsung Mobile.
PocketGear was founded by Jud Bowman, who previously was an executive at Motricity.
To date, PocketGear's carrier-grade Fuel Platform has delivered more than $2.5 billion of mobile content and applications to more than 2,000 devices.
Nortel to sell off another piece
TORONTO -- Nortel Networks Corp. announced it's selling another part of the company on Monday.
The telecommunications giant, which declared bankruptcy earlier this year, said it plans to sell by open auction its wireless technology in the global GSM/GSM-R business.
GSM stands for Global System for Mobile communications, a wireless technology standard. Nortel is a leading supplier of GSM networks and GSM-R, which provides communications for railway operators.
The Toronto-based company has filed a motion with the U.S. Bankruptcy Court for the District of Delaware and the Ontario Superior Court of Justice that will allow qualified bidders to submit offers for the GSM/GSM-R.
Nortel has been selling off components of its business since declaring bankruptcy in January. Most recently, communications giant Avaya Inc. won the bid to acquire Nortel's Enterprise Solutions business for $900 million in cash.
As of a month ago, Nortel still employed about 1,850 people in Durham's Research Triangle Park.
-- From staff reports
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