New Image Industries Inc. Extends Acquisition Pact
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New Image Industries Inc., a Canoga Park maker of dental intraoral cameras, has agreed to extend its agreement in principle to be acquired by Dentsply International Inc. of Des Plaines, Ill., to Oct. 3.
New Image said the move is to give Dentsply time to complete its due diligence review of New Image.
Dentsply, a supplier of dental, X-ray and mammography products, last month agreed to purchase New Image for $16.38 a share, or a total of $91.6 million. New Image said the deal is still subject to a definitive agreement being reached, the approval of both companies’ boards of directors and other conditions.
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