CHIR plan: Raise money and buy technology

Chiron Corp. has decided that beneficial interest rates offer an opportunity for the company to embark on a technology acquisition campaign and to expand the company's manufacturing base.
The company last week announced that it would raise $200 million in an offering of debt convertible into 6 percent of CHIR common stock,
CFO Dennis Winger said capital spending is driving the fund-raising plans. CHIR is manufacturing Betaseron beta interferon, DNA probes and vaccines, all of which need facilities. As of Sept. 30, CHIR had cash and equivalents of $337.2 million. The company has spent $91.3 million this year on capital expenditures, primarily to expand manufacturing capacity.
In addition, the company will use the money to acquire technology. "Today there's so much