NEW YORK (GenomeWeb News) – Hologic today said that its $3.7 billion deal to acquire Gen-Probe has cleared US antitrust review.
The Bedford, Mass.-based firm said that the initial 30-day waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 had expired without a request for additional information from the US Federal Trade Commission.
The firm announced the deal, which calls for Hologic to acquire Gen-Probe for $82.75 per share, on April 30. Expiration of the waiting period satisfies one condition to close the transaction, which is expected to take place in the third quarter of this year.
The firms said today that they have already begun integration planning efforts and are "identifying critical integration issues, establishing objectives and targeted synergies for each area of the business, mapping product and service lines and establishing key milestone dates and events."
Hologic CFO Glenn Muir told investors at William Blair & Co.'s 32nd Annual Growth Stock Conference in Chicago last week that Gen-Probe will become the "hub" of Hologic's diagnostics business, and in addition to selling the San Diego-based company's test to labs, Hologic will also target obstetricians and gynecologists.