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Article: Gen-Probe Does Not Intend to Increase Offer to Acquire Innogenetics.
- Article from:
- PR Newswire Europe
- Article date:
- July 9, 2008
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Copyright informationCOPYRIGHT 2008 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SAN DIEGO, July 9 /PRNewswire/ --
Gen-Probe Incorporated (Nasdaq: GPRO) announced today that the Company does not intend to increase the value of its conditional tender offer to acquire 100% of the outstanding shares, warrants and convertible bonds of Innogenetics (EBR: INNX), a Belgian molecular diagnostics company.
"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," said Hank Nordhoff, Gen-Probe's chairman and chief executive officer. "Our existing clinical diagnostics and blood screening businesses remain healthy year-to-date, and we ...