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Argonaut Acquisition Would Boost Biotage s Annual Revenue by $17.6M

NEW YORK, May 4 (GenomeWeb News) - Biotage's impending acquisition of Argonaut Technologies, announced last month, would add around 125 million Swedish kronor ($17.6 million) to Biotage's annual top line, the company said today.

 

As GenomeWeb News reported, Biotage is "close" to closing a deal to acquire Argonaut for $21.2 million in cash.

 

The acquisition is expected to close "directly after" a shareholder's meeting in the second half of May, if Biotage shareholders vote in favor of the acquisition, Biotage CEO Jeff Bork said at the time.

 

However, Biotage today said that the acquisition must receive final approval by a special meeting of Argonaut shareholders, which will take place on June 1. Argonaut directors have already accepted Biotage's bid to acquire the business.

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