NEW YORK (GenomeWeb) – Fujifilm Holdings announced on May 1 that it has completed its $307 million acquisition of Cellular Dynamics, which now is a wholly owned subsidiary of FujiFilm.
The completion of the deal follows the expiration of a tender offer bid at 11:59 ET, April 30. As of the expiration of the offer, Cellular Dynamics' shareholders had validly tendered and not withdrawn more than 14.3 million, or 90 percent, of the company's shares, and as a result, all conditions of the offer were satisfied, Cellular Dynamics said in a document filed with the US Securities and Exchange Commission.
The Madison, Wisconsin-based firm added that it notified Nasdaq of the consummation of the merger, and trading of its shares were suspended on May 1. Cellular Dynamics will file with the SEC to deregister its shares, which is anticipated to become effective 10 days after the filing.
Under the terms of the acquisition, Fujifilm paid $16.50 per share of Cellular Dynamics' common stock. Cellular Dynamics will continue to run its operations in Madison and Novato, California.
The firm was founded in 2004 and develops and manufactures human cell lines on an industrial scale, including human induced pluripotent stem cells for research and drug discovery. Cellular Dynamics went public July 2013.