I will let the company execute on its clear plan and then with a little promotion to the brokers and small cap insto's the SP will look after itself
lets hope that we can see some good newsflow soon that will make 23c the low with any volume
I see that Hologic has successfully closed its bid for Thirdwave and Gen-Probe has been out bid by Solvay for Innogenetics. Besides GBI, Innogenetics was the last remaining independent with a promising HPV test.
cheers
Solvay Triumphs Over Gen-Probe in Race to Acquire Innogenetics with $316M Offer GEN News Highlights
The bidding battle between Solvay Pharmaceuticals and Gen-Probe over Innogenetics has come to an end, with Solvay the winner. Solvay’s latest offer values molecular diagnostic firm Innogenetics at €200.7 million, or $316.04 million.
Solvay upped its conditional tender offer from €5.75 per share to €6.50 per share, and Gen-Probe has decided to back out. Even though Solvay’s initial acquisition price was met by a counteroffer from Gen-Probe of €6.10 per share, Gen-Probe says that it will not increase its proposal this time around.
“We believe the disciplined analytical process we used to value Innogenetics resulted in a full and fair offer, and a higher bid therefore does not make financial sense for us,” explains Hank Nordhoff, Gen-Probe's chairman and CEO. “Our existing clinical diagnostics and blood screening businesses remain healthy year-to-date, and we continue to focus on growing them in the U.S. and internationally.”
The $6.50 per share represents a 74% premium to Innogenetics closing price on April 24, the day before Solvays made the initial offer. Solvay expects to close the transaction in the second half of this year.
GBI Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
