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Clarient Shareholders Tender 80 Percent of Shares in GE Healthcare Acquisition

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Stockholders of Clarient have tendered around 80 percent of their shares to GE Healthcare as the initial offering period for the acquisition closed last night.

GE Healthcare launched the $580 million acquisition offer for the molecular diagnostics and imaging firm in early November.

Aliso Viejo, Calif.-based Clarient is developing proprietary biomarkers and tests for profiling breast, prostate, lung, colon, and blood-based cancers. Last year, the firm acquired Applied Genomics, a molecular diagnostics firm that was developing the Mammostrat breast cancer recurrence test, which Clarient intends to launch as a laboratory-developed test later this year.

GE today said that it has been informed that 71,162,485 common shares and 5,263,158 preferred shares, representing 80.2 percent of Clarient's outstanding common stock, had been tendered and not withdrawn pursuant to the offer. In addition, GE has received commitments to tender 11,141,919 additional common shares, representing around 12.6 percent of the outstanding stock, under the guaranteed delivery procedure.

GE will now undertake a subsequent offering period to acquire all of the remaining shares that have not yet been tendered. That offering will end on midnight, New York City time, on Dec. 21.

Shareholders would receive the same amount in cash, $5 per share, as was paid in the initial offering period.

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