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Still Awaiting Approval by Chinese Agencies, BGI-Shenzhen Extends Offer for Complete Genomics

NEW YORK (GenomeWeb News) – BGI-Shenzhen said late on Wednesday that it has again extended its cash tender offer for Complete Genomics.

The offer is now set to expire midnight EST on Feb. 22. The extension is to allow China's Ministry of Commerce time to approve the deal and China's State Administration of Foreign Exchange to register the transaction, BGI said. It also noted the upcoming Chinese New Year holiday in China, which is set to begin Feb. 9 and end Feb. 15.

The $118 million deal had been set to expire midnight on Feb. 6.

The depositary for the offer has indicated that as of the close of business on Wednesday, about 30,967,711 shares, or 87 percent, of Complete Genomics' common stock have been tendered and not withdrawn.