Germany's GENEART being acquired by US biotech firm Life Technologies
German gene synthesis specialist GENEART's founders, top management team and others have agreed to be acquired by US biotechnology firm Life Technologies, tendering their shares to the latter - via its German subsidiary Applied Biosystems Deutschland GmbH - on April 9.
The founders of GENEART - Ralf Wagner, Hans Wolf and Marcus Graf, and individual members of the management, as well as the venture capital companies EquiNet EarlyStage Capital and S-REFIT AG, have signed contracts with Applied Biosystems Deutschland whereby the latter paid 11.59 euros per share and now holds about 58 % of GENEART.
It is also planning a voluntary public tender offer for the remaining stock, offering GENEART shareholders 13.75 euros for each 1-euro par value they hold, subject to the provisions of the offer document, which would bring the total acquisition cost to around 56 million euros ($75.8 million).
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