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Atlanta – GE Power Systems plans to acquire Jenbacher, one of the world's leading suppliers of reciprocating gas engines for power generation.
GE and a group of major shareholders of Jenbacher have signed an agreement for the sale of the group's controlling interest in Jenbacher, in cash, to a wholly owned subsidiary of GE as part of a combined private/public transaction. The sale price was not disclosed. The transaction is expected to close in the first quarter of 2003.

Atlanta – In a filing with the Securities and Exchange Commission, SynQuest Inc. said it wants shareholder approval for a reverse split of its common stock to maintain its listing on the Nasdaq SmallCap Market.
The Atlanta-based company (Nasdaq: SYNQ) has not yet decided on a ratio for the split, but suggested a range of between 1-to-2 and 1-to-4.

Atlanta – AtheroGenics Inc. has received positive results from a Phase I clinical trial to assess the safety and tolerability of AGI-1096, its novel oral drug for the prevention of organ transplant rejection.
The trial was an open-label, ascending single dose, safety and pharmacokinetics trial in healthy volunteers. A total of 48 subjects received single doses of the drug, ranging from 5 mg to 640 mg. The results demonstrated that AGI-1096 was well tolerated over the escalating single oral doses studied.