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NEWSBRIEF: Cytyc, Digene Merger Offer Extended

SAN FRANCISCO, May 9 - Sample preparation firm Cytyc today extended its offer to purchase genomics diagnostics company Digene to May 23, eastern standard time.

 

The stock and cash deal, valued at $77 million, was set to expire today.

 

Under the terms of the merger agreement, Cytyc can extend the offer period if any of the conditions of the offer have not been met or waived, according to the companies.

 

As of the close of business on May 8, approximately 10.4 million shares of Digene common stock, representing about 58 percent of the total outstanding shares of the company, had been tendered and not withdrawn pursuant to the offer, according to Cytyc.

 

Both Cytyc, of Boxborough, Mass., and Gaithersburg, MD.-based Digene develop diagnostics related to cervical cancer: Cytyc is working on an automated system for pap testing, and Digene's test detects human papilloma virus, which is linked to cervical cancer.

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