Gen-Probe Tops Solvay Bid, Offers to Buy Innogenetics for $334M

Jun 04, 2008

NEW YORK (GenomeWeb News) – Gen-Probe has made a bid to buy the Belgian molecular diagnostics company Innogenetics for €215 million ($334 million) in cash, or €6.10 a share, besting an April offer of €5.75 a share from drug maker Solvay.

The offer is roughly 4.3 times Innogenetics’ diagnostic revenues of approximately €51 million in 2007.

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