A Medical Device Daily
Qiagen (Venlo, the Netherlands) reported that it has received the vote of the necessary percentage of its shareholders in favor of the $1.6 billion acquisition of Digene at its extraordinary general meeting of shareholders held in the Netherlands.
The receipt of this favorable vote which was obtained with an overwhelming majority of the votes cast satisfies one of the key remaining conditions required to close the transaction that was first disclosed last month (Medical Device Daily, June 5, 2007).
In June, the companies reported that they had entered into a merger agreement, under which Qiagen will acquire Digene in a transaction that consists of 55% cash and 45% Qiagen stock.
At press time, the transaction was still subject to the tender of a majority of Digene’s common stock on a fully diluted basis before 11:59 p.m., EST, July 20, unless extended.
The companies reported that they have successfully completed major milestones towards closing this transaction in a shorter period of time than initially projected. Previously, they said they had expected to complete the transaction in August/September. Qiagen said it now believes that it should be able to close the transaction in the earlier part of this period.
Qiagen is a provider of sample and assay technologies and products. Digene manufactures DNA and RNA tests, with a focus on women’s health.