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US: Affymetrix rejects $1.5 billion takeover bid

By  |  March 21, 2016

Affymetrix, a maker of advanced genetic analysis technology, on Sunday rejected an 11th-hour takeover bid meant to derail its planned sale to Thermo Fisher Scientific for $1.3 billion.

In a statement, Affymetrix said that the $1.5 billion offer by some of its former employees, who have set up a shell company called Origin Technologies, was not a “superior proposal” to the Thermo Fisher deal.

The move complicates what has already become a complex situation and suggests that both the target company and its preferred buyer will maintain a robust defense of their transaction ahead of a vote by Affymetrix shareholders on the deal this week.

Full content: The New York Times

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