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Luminex Increases Purchase Price for Nanosphere

NEW YORK (GenomeWeb) – Luminex announced today that it has raised the purchase price for Nanosphere to $1.70 per share in cash from the $1.35-per-share price it originally offered for the molecular diagnostics developer.

This raises the share-price value of the transaction to approximately $77 million from $58 million.

Molecular diagnostics and life sciences research tools firm Luminex first announced its purchase agreement with Nanosphere in mid-May. At that time, the company also said it would pay or help Nanosphere pay $25 million in debt outstanding as of March 31. The deal was expected to close on or before July 1.

The increase came in response to an unsolicited bid from an unnamed third party, Luminex said. That company offered to buy Nanosphere for $1.50 per share.

Nanosphere's shares have climbed 27 percent to $1.67 in morning trading on the Nasdaq. Luminex's shares are up nearly 2 percent to $20.19.