Applied Biosystems Inc. (ABI) announced that shareholders ofrecord on Oct. 23 will receive 0.81 shares (0.48 preferredshares and 0.33 common shares) of Lynx Therapeutics Inc.stock for each of their ABI shares.
ABI of Foster City, Calif., last week spun off Lynx, which was itstherapeutics subsidiary.
According to Jackie Cossman, ABI's director of investorrelations, the ratio represents the proportion of preferred tocommon shares that ABI owns in Lynx.
The Lynx shares will be valued at $1 per preferred share and20 cents per common share and will be taxable income for1992.
Cossman told BioWorld that ABI is reluctant to place a value onLynx at this stage because antisense DNA technology is a verynew area.
Lynx shares will be distributed about four weeks following therecord date.
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