Chinese Bidder Draws Closer To Complete Genomics Buy

Law360, New York (January 14, 2013, 7:34 PM EST) -- After Chinese officials signed off Friday on Chinese company's bid for California-based gene sequencer Complete Genomics Inc., all eyes are on a Delaware court, where shareholder litigation continues, and on rival Illumina Inc., which has quietly withdrawn a topping offer it made in November.

BGI said it has obtained clearance from the National Development & Reform Commission, China's chief economic regulator, for its $3.15-per-share offer valuing Complete Genomics at about $108 million. The NDRC approval follows clearances from the Committee on Foreign Investment in the U.S. and...
To view the full article, register now.