BGI-Shenzhen announced that it would extend an all cash offer to purchase all outstanding shares of common stock for Complete Genomics Inc. The tender offer was made through BGI-Shenzhen's wholly owned subsidiary Beta Acquisition Corporation.
The deadline would be at 12:00 midnight EST on March 1, 2012. BGI had already made a previous offer of the same provisions with a deadline of 12 mn EST last February 22, 2013. The new offer is an extension of the previous offer, with all other provisions retained.
According to the Depositary for the Offer, as of February 22,2013, Complete Genomics Inc has a total of 30,807,293 shares of common stock to be covered under the offer. This is about 87% of the complete common stock for the company.
The financial advisor for the deal is CITI and the legal counsel is O'Melveny and Myers LLP. Assisting Complete Genomics is Jefferies and Jefferies Company while the legal counsel is Latham and Watkins LLP.
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