NEW YORK (GenomeWeb) – Qiagen took another step towards completing its DKK683 million ($105 million) acquisition of RNA analysis products developer Exiqon by reducing the acceptance threshold of the share capital and voting rights in Exiqon to around 89 percent from 90 percent.
As a result, Qiagen also extended the offer period for Exiqon's shares for the third time. The current offer now expires at the end of the day on June 22. Qiagen first announced its plan to acquire Exiqon for DKK18 per share in cash in late March, and then extended the offer in the middle of May to expire on June 2 when it did not reach the prescribed acceptance threshold. The company then extended the offer a second time on June 3, again in an effort to surpass the previously established 90 percent threshold.
Qiagen said that it has already received acceptances from Exiqon shareholders representing around 89 percent of the share capital and voting rights, and the firm now expects that the condition will be satisfied at the expiry of the current offer period.