German industrial conglomerate Siemens AG plans to accept all validly tendered shares of laboratory diagnostics company Dade Behring, based in Deerfield, Ill., after its cash tender offer expired today at 12 a.m.

The depositary for the tender offer advised Siemens that once the offer expired, an aggregate of approximately 73 million shares of Dade Behring’s common stock had been validly tendered and not withdrawn. In addition to approximately 2.66 million shares to be tendered under guaranteed delivery procedures, the total number of shares represents approximately 94 percent of Dade Behring’s outstanding common stock.

Siemens expects to close the transaction on or about Nov. 6. At the close, Dade Behring will be integrated in the existing business of Siemens Medical Solutions Diagnostics, a wholly owned subsidiary of Siemens Medical Solutions USA Inc.

Under terms of a merger agreement, Siemens will acquire Dade Behring’s outstanding shares for $77.00 per share in cash, a deal with an estimated transaction value of $7 billion.

Jim Reid-Anderson, currently chairman, president and CEO of Dade Behring, will lead the Siemens Medical Solutions Diagnostics global business, which boasts nearly 15,000 employees. Jochen Schmitz will remain chief financial officer. Primary offices of the company will maintain their location in Deerfield.