NEW YORK (GenomeWeb News) — Applied Imaging shareholders have approved the sale of the company to Genetix Group, AI said today.
As GenomeWeb News reported when the acquisition was announced in September, the all-cash deal is valued at $25.8 million. Genetix will pay $4.20 for each share of Applied Imaging's common stock.
Since announcing the deal, Genetix has raised its original bid price of $3.03 several times in response to unsolicited bids by at least one third-party to purchase Applied Imaging.
The companies did not say when they expect the deal to close.
This article originally appeared in ProteoMonitor, a GenomeWeb News sister publication.