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Illumina Withdraws Complete Genomics Bid

NEW YORK (GenomeWeb News) — Illumina has withdrawn its offer to acquire Complete Genomics, according to a filing submitted to the US Securities and Exchange today.

According to the filing, Illumina has also notified the Federal Trade Commission that it is withdrawing a Hart-Scott-Rodino merger prenotification filing related to the proposed acquisition.

Illumina made an unsolicited bid for Complete Genomics last November, offering $3.30 per share for the company — a bid 5 percent above that of BGI-Shenzhen, which in September offered approximately $118 million for the sequencing services firm.

Yesterday, BGI and Complete Genomics announced that the FTC had granted early termination of the Hart-Scott-Rodino waiting period for their proposed merger.

Illumina's proposal, meantime, was the subject of several information requests from the FTC. Complete Genomics had cited the fact that the agreement would not receive antitrust clearance as a key factor in rejecting Illumina's bid.

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