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Cellestis Shareholders OK Acquisition by Qiagen

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Shareholders of Australian firm Cellestis have approved the proposed acquisition of the firm by Qiagen.

The terms of the deal, which were amended last month to increase the total amount of consideration being paid, was overwhelmingly approved by Cellestis' shareholders with 92 percent of votes in favor of the deal. Roughly 73.9 million votes were cast in favor of the amended scheme, and around 6.5 million votes were against the proposal.

According to terms of the amended proposal, Qiagen will pay A$3.80 (US$4.09) per share, bringing the total consideration of the deal to US$374 million from a previous proposed amount of US$355 million.

Melbourne-based Cellestis said that it is applying to the Supreme Court of Victoria for approval of the scheme at a hearing scheduled for Aug. 9.

"We believe this will be a good outcome for both sets of shareholders today," Qiagen CEO Peer Schatz said in a statement. "Cellestis shareholders will realize a very good premium in cash for their shares while the acquisition of Cellestis offers opportunities to create significant value for Qiagen shareholders."

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