Nanogen May Nix Elitech Merger | GenomeWeb

NEW YORK (GenomeWeb News) — Nanogen's plan to buy diagnostics firm Elitech is unlikely to happen as certain closing conditions for the deal probably won't be met by March 31, 2009, Nanogen said today.

San Diego-based Nanogen said the companies have agreed to allow Nanogen the right to consider alternatives to the reverse acquisition, which was valued at €66.5 million ($98.5 million) when the companies forged the plan in August 2008.

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