NEW YORK (GenomeWeb News) — An Ontario Superior Court of Justice has cleared the way for Luminex to acquire Tm Bioscience, Tm said yesterday.
Tm last week said that the deal could close within a day of the court’s favorable decision.
As GenomeWeb News reported in December, the deal would exchange one Tm share for every .06 share of Luminex. Luminex said at the time that would be roughly a 41.5 percent premium for Tm’s shareholders.
One month earlier Tm initially said it was seeking a “strategic transaction” such as a merger or acquisition that would allow the company to begin selling worldwide its ID-Tag respiratory viral panel, which had just received European CE Mark clearance.