This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

BGI-Shenzhen Begins Tender Offer To Acquire Complete Genomics, Inc.





SHENZHEN, China, Sept. 25, 2012 /PRNewswire/ -- BGI-Shenzhen ("BGI") is commencing today, through its wholly owned subsidiary Beta Acquisition Corporation, a cash tender offer to purchase all outstanding shares of common stock of Complete Genomics, Inc. (NASDAQ: GNOM) ("Complete"). BGI reported earlier this month its intent to acquire Complete.

Upon the successful closing of the tender offer, stockholders of Complete will receive $3.15 in cash for each share of Complete's common stock tendered in the offer, less any required withholding taxes and without interest. Following the purchase of shares in the tender offer, Complete will become a subsidiary of BGI.

BGI will file today with the Securities and Exchange Commission a tender offer statement on Schedule TO that provides the terms of the tender offer. Complete will file today with the SEC a solicitation/recommendation statement on Schedule 14D-9 that includes the recommendation of Complete's board of directors that Complete's stockholders accept the tender offer and tender their shares to BGI. As previously announced, Complete's board of directors has unanimously concluded that the merger agreement and its related transactions (including the tender offer and the merger) are advisable, fair, and in the best interests of Complete and it stockholders.

The tender offer will expire at 12:00 midnight ( New York City time) on Tuesday, October 23, 2012, unless extended in accordance with the merger agreement and the applicable rules and regulations of the SEC. The offer will be subject to customary conditions, including customary regulatory clearances and the acquisition by BGI of a majority of Complete's shares on a fully diluted basis.

Innisfree M&A Incorporated is acting as information agent for BGI. Citi is serving as financial advisor for the transaction to BGI and O'Melveny & Myers LLP is acting as BGI's legal counsel. Complete is advised by Jefferies & Company and its legal counsel is Latham & Watkins LLP.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs