Complete Genomics Rejects Counter Bid
Nov 14, 2012, 08:00 AM
by
Michael Croft
Bio-IT World | Complete Genomics received an unsolicited counter bid on November 5 that could have disrupted the firm's ongoing acquisition by BGI. The bid, from "Party H", was for $3.30 per share, 5% more than the BGI offer price, however Complete Genomics rejected the offer on November 8.
November 14, 2012 | Complete Genomics received an unsolicited counter bid on November 5 that could have disrupted the firm's ongoing acquisition by BGI. The bid, from "Party H", was for $3.30 per share, 5% more than the BGI offer price, however Complete Genomics rejected the offer on November 8. After reviewing the proposal, the Complete board decided that the new offer did not constitute a "superior proposal" because it would likely not receive antitrust clearance. Street Insider


