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Tepnel Shareholders OK Gen-Probe Takeover

NEW YORK (GenomeWeb News) – Shareholders of Tepnel Life Sciences have approved the acquisition of the firm by Gen-Probe.

Gen-Probe said today that more than 99 percent of Tepnel shareholders voted in favor of the deal, which was announced in late January. Under terms of the transaction, Gen-Probe will pay 27.1 pence ($.386) per share in cash for each share of Tepnel outstanding — valuing the deal at $132.2 million.

The boards of directors of both firms have already unanimously approved the deal, which Gen-Probe said it expects to close on or around April 8.

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