Illumina (ILMN) Affirms Being 'Party H' in Complete Genomics' (GNOM) Filing
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Complete Genomics (GNOM) Discloses $3.30/Sh Unsolicited Bid, Says Doesn't Not Constitute a Superior Proposal
November 13, 2012 9:02 AM ESTTakeover target Complete Genomics, Inc. (NASDAQ: GNOM) is higher in pre-open trading Tuesday following the disclosure it receive an unsolicited bid on November 5 from "Party H" although it told "Party H" that its plan didn't constitute a superior proposal.
In September, Complete Genomics agreed to be acquired by BGI-Shenzhen for $3.15 per share in cash.
From the filing:
On November 5, 2012, Party H submitted an unsolicited non-binding proposal to acquire the Company, which included the following terms:
A per share cash purchase price of $3.30, which represented approximately a 5%... More
