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Home Industry News Qiagen announces Digene acquisition milestone

Qiagen announces Digene acquisition milestone

17th July 2007

Qiagen has revealed that a milestone has been reached in its continuing acquisition of DNA and RNA test developer Digene.

Monday, July 16th marked the end of the antitrust waiting period required by the Hart-Scott-Rodino Antitrust Improvements Act of 1976, the company announced.

Following the expiration of the waiting period, the acquisition may now go ahead, with Qiagen predicting completion during August or September.

The merger was announced on June 3rd, with the amount owed for the purchase to be provided in 55 per cent cash and 45 per cent Qiagen shares.

In order for the transaction to continue, a majority of Digene stock must be tendered on a fully diluted basis before the end of July 20th.

Meanwhile, the support of Qiagen shareholders is also required for the successful completion of the acquisition.

Digene this week revealed that Gen-Probe has been granted permission to act in the arbitration being conducted with Roche.

According to Digene, a sales agreement between Roche and Gen-Probe contravened a cross-licence agreement established with Roche’s predecessor Institut Pasteur.ADNFCR-1050-ID-18213741-ADNFCR

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