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Awaiting Further Approvals, BGI-Shenzhen Extends Offer for Complete Genomics

NEW YORK (GenomeWeb News) – BGI-Shenzhen said after the market closed on Friday that it is extending its cash offer for Complete Genomics to midnight EST Jan. 25.

The deal had previously been extended to midnight EST Jan. 18.

The $118 million acquisition is awaiting approval from China's Ministry of Commerce and China's State Administration of Foreign Exchange. The National Development and Reform Commission in China already cleared the deal, as has the US Federal Trade Commission.

The depository for the offer said that as of the close of the business day on Jan. 18 about 30,620,053 shares, or 86 percent, of the common stock of Complete Genomics have been validly tendered and not withdrawn.