BGI-Shenzhen announced that it, through its wholly-owned subsidiary Beta Acquisition Corporation, has extended its all cash tender offer to purchase all outstanding shares of common stock of Complete Genomics Inc. (GNOM) to 11:59 p.m. EDT on Thursday, March 14, 2013. The Offer was previously scheduled to expire at 12:00 midnight EST on Friday, March 1, 2013.
The company said that except for the extension of the Offer expiration date, all other terms and conditions of the Offer remain unchanged.
The Depositary for the Offer has indicated that, as of the close of business on March 1, 2013, about 30.72 million shares, or approximately 87%, of common stock of Complete have been validly tendered in and not withdrawn from the Offer, including shares of common stock of Complete subject to guaranteed delivery procedures.
In September 2012, Complete Genomics and BGI-Shenzhen had announced that they entered into a definitive merger agreement. As per the agreement, a wholly-owned U.S. subsidiary of BGI-Shenzhen would launch a tender offer to buy all outstanding shares of common stock of Complete Genomics for $3.15 per share in cash, without interest. Based on the number of fully diluted outstanding shares of the company, the aggregate value of the transaction was around $117.6 million.
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