Affymetrix sticking with Thermo Fisher merger after rejecting rival takeover bid

21 March 2016

US gene-testing firm Affymetrix (Nasdaq: AFFX) has snubbed interest from Origin Technologies Corporation, announcing its continued commitment to merge with biotech product development company Thermo Fisher Scientific (NYSE: TMO).

Origin Technologies, which was set up by a group of former Affymetrix executives, launched a $1.5 billion bid to acquire Affymetrix on Friday.

Affymetrix’ board reviewed the decision and two days later released a statement saying that Origin Technologies appeared to be a newly-formed entity with no assets, and which seemingly would fund the takeover only through potential debt commitments.

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