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NEW YORK, May 30 - Visible Genetics said today it is looking to sell itself.
The company said that a sale would "include a modest premium" to its current share price. Shares in the Toronto-based tool company closed at $3.75 on the Nasdaq yesterday. Its current market cap hovers around $65 million.
"While VGI is committed to acting in the best interest of its shareholders, the timing and outcome of this process is uncertain," the company said.
The decision by Visible Genetics has caused it to postpone a conference call scheduled for this morning.