NEW YORK (GenomeWeb News) – The Ministry of Commerce of the People's Republic of China has approved BGI's proposed acquisition of Complete Genomics, BGI announced after the close of the market on Monday.
The $118 million deal is still awaiting approval by the China's State Administration of Foreign Exchange. BGI last week extended its cash tender offer for Complete Genomics until midnight ET March 1, as it waited for approval from the two agencies.
BGI's bid for the Mountain View, Calif.-based firm was originally announced in September. The deal cleared US antitrust review in early January.