BGI to acquire Complete Genomics

BGI (Shenzhen, China) will acquire whole genome sequencing company Complete Genomics Inc. (NASDAQ:GNOM) for $3.15 per share in cash, or about $117.6 million. The price is an 18% premium to Complete Genomics' close of $2.67 on Friday, before the deal was announced. The price is also a 54% premium to Complete Genomics' June 4 close of $2.04, before the company said it planned to restructure and explore strategic alternatives. Complete Genomics' board unanimously recommended the deal, which is expected to close in early 2013. Complete Genomics reported 2011 revenues of $19.3 million. ...