Novartis will acquire Genoptix for $470 M representing a 39% premium over its current stock price of $17.98 per share. It's a tender offer which means the majority of Genoptix shareholders will need to agree to surrender their shares.
Genoptix Agrees to $470M Takeover by Novartis.
The acquisition of Genoptix, a company specializing in diagnosing cancers in bone marrow, blood and lymph nodes, will help Novartis in its pursuit of personalized cancer treatment programs. Novartis currently is the world's second biggest maker of cancer drugs - with 2009 sales of more than $9 B. The fact that Genoptix is a profitable company doesn't hurt the deal. Genoptix will become part of Novartis' Molecular Diagnostics unit.
Posted by Bruce Lehr Jan 24th 2011.
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