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Horizon Discovery Rejects £270M Takeover Offer From Abcam

NEW YORK (GenomeWeb) – UK-based life science reagents and tools company Abcam announced today that it made a takeover offer for Horizon Discovery on April 19 that valued the company at approximately £270 million ($367.4 million). Horizon's board has rejected the offer.

The offer put a value of 181 pence per share on Horizon's stock, representing a premium of approximately 26 percent to Horizon's closing share price of 144 pence on May 1. The deal would have been satisfied by the issue of new shares in Abcam, the firm said.

Horizon declined to comment on the takeover offer.

In a statement, Abcam said it is "executing its vision to be the most influential life science company for researchers worldwide," and that adding Horizon's extensive capabilities in gene editing to Abcam's business would help both firms to "expand their reach and influence globally." Abcam's board is therefore seeking to further engage with Horizon in a "constructive dialogue," the company added.

The Scan

Call for a Different Tack

Experts weigh the value of recent experiments testing genetically modified pig kidneys using brain-dead individuals, according to Nature News.

Wastewater Warning

The New York Times reports that wastewater surveillance in some parts of the US point to a possible surge.

Can't Get in the Program

Due to the Northern Ireland protocol dispute, the European Union is preventing UK researchers from joining the Horizon Europe research program, the Times of London reports.

Science Paper on Spatial-Controlled Genome Editing

In Science this week: approach to enable a CRISPR-Cas13a-based system to be used as a cancer therapy.