Monday, January 24, 2011
Genoptix Acquired By Novartis For $470M
San Diego-based Genoptix, a publicly held provider of laboratory services to the hematology and oncology market, said this morning that it is in a definitive merger agreement to be acquired by Novartis. According to Genoptix, the deal is worht $25.00 per share of its stock, or $470M in equity, or approximately $330M in enterprise value. Genoptix said the offer is a 27 percent premium over its closing price of $19.76 on Friday. Genoptix was advised by Barclays Capital and Cooley LLP in the deal.