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Danaher's Acquisition of Genetix Group Nearly Complete

NEW YORK (GenomeWeb News) – Danaher said yesterday that it has acquired and received acceptances for approximately 97 percent of the currently issued shares of Genetix Group.

Danaher said that it intends to acquire any common shares of Genetix that remain untendered through the compulsory acquisition provisions for UK companies.

In December, Danaher, based in Washington, DC, offered to buy New Milton, UK-based Genetix Group for around ₤63.4 million ($102 million), or 85 pence per share.

At the time, the board of directors and shareholders of Genetix representing 77 percent of its issued share capital agreed to accept the offer. Danaher had said that the deal would become firm once holders of 90 percent of Genetix's shares agreed to accept the offer.

Genetix provides imaging technologies used to develop clinical diagnostics, biotherapeutics, pharmaceuticals, and in mainstream research applications. Danaher said that combining Genetix's technology with instrumentation from Danaher's Leica Microsystems unit creates product offerings for both the clinical and research markets.

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