Roche (SWX: RO, ROG) announced that it entered into an agreement to acquire GenMark Diagnostics (NSDQ:GNMK) for $1.8 billion.
Basel, Switzerland-based Roche is set to purchase GenMark at $24.05 per share in an all-cash transaction, totaling approximately $1.8 billion on a fully diluted basis. That represents a premium of approximately 43% to GenMark’s unaffected closing share price on Feb. 10, 2021, the final trading day before a media report speculated over a potential sale, according to a news release.
Under the agreement, Roche will commence a tender offer to acquire all outstanding shares of GenMark’s common stock and GenMark will file a recommendation statement to represent its board’s unanimous recommendation that GenMark stockholders tender their shares to Roche.
Once Roche completes the acquisition, GenMark’s principal operations will continue at its current location in Carlsbad, Calif.
GenMark develops a syndromic …