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Australian Court Approves Qiagen's Purchase of Cellestis Shares

NEW YORK (GenomeWeb News) – Cellestis announced on Tuesday that the Supreme Court of Victoria in Australia has approved Qiagen's acquisition of its ordinary shares by way of a Scheme of Arrangement.

Upon implementation of the Scheme, Cellestis shareholders will received cash consideration of A$3.80 ($3.90) per share, comprised of A$3.73 in cash from Qiagen for each Cellesis share, and a special dividend of A$.07 per Cellestis share, Qiagen said separately.

Cellestic said it is in the process of applying for suspension from the Australian Stock Exchange, which was expected to take effect at 7 p.m. EST today.

The acquisition of Cellestis by Qiagen was approved by Cellestis shareholders last week. Qiagen originally was to pay A$3.55 per share of Cellestis stock under the terms of the deal, but last month raised the price to A$3.80 per share.

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