NEW YORK (GenomeWeb) – Rosetta Genomics announced today that its shareholders have approved its proposed merger with Genoptix.
Late last year, Genoptix agreed to acquire Rosetta for $10 million in cash, but the deal was scuttled after failing to garner enough support from Rosetta shareholders. Several months later, the companies signed a new merger agreement that valued Rosetta at $9 million.
Rosetta said that its shareholders have approved the latest agreement and that the merger is now slated to close on May 27. Following completion of the deal, Rosetta will become a privately held subsidiary of Genoptix, and its shares will cease to trade on the Nasdaq.
During midday trading, shares of Rosetta were down less than 1 percent to $.43.