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BGI Offer for Complete Genomics Extended Until March 1

NEW YORK (GenomeWeb News) – BGI said after the close of the market on Friday it has again extended its cash tender offer for Complete Genomics.

The $118 million deal is now set to expire at midnight ET on March 1. The offer has been pushed back several times and most recently was to expire at midnight Feb. 22.

The depositary for the offer indicated that as of the close of business on Friday, more than 30.8 million shares, or 87 percent, of Complete Genomics' common stock had been validly tendered and not withdrawn.

BGI did not provide a reason for the extension but previously said that it is awaiting approval from China's Ministry of Commerce and the State Administration of Foreign Exchange.