WaferGen Bio-Systems (WGBS) Stockholders Approval of Merger with Takara Bio

November 15, 2016 5:02 PM EST

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WaferGen Bio-systems, Inc. (NASDAQ: WGBS), a publicly held genomics technology company ("WaferGen"), today announced that its stockholders have approved the adoption of the previously announced merger agreement by and among WaferGen, Takara Bio USA Holdings, Inc. ("Takara Bio") and certain other parties thereto.

"We are very pleased with the outcome of today's vote and thank all of our stockholders for their support," said Rollie Carlson, Ph.D., President and Chief Executive Officer of WaferGen. "We are confident that our merger with Takara Bio is the best outcome for WaferGen and our stockholders and look forward to closing the transaction in the first quarter of 2017."

Pursuant to the merger agreement, upon completion of the contemplated merger, WaferGen will become a wholly owned subsidiary of Takara Bio and WaferGen's outstanding equity securities will be automatically converted into the right to receive a cash payment, as more fully described in the proxy statement filed by WaferGen with the Securities and Exchange Commission on September 15, 2016.

The merger remains subject to customary closing conditions set forth in the merger agreement and is expected to close in the first quarter of 2017.

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