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Web Date: March 21, 2016

Former employees top Thermo Fisher offer for Affymetrix

$1.5 billion bid attempts to edge out instrumentation leader in bid to build a genomics powerhouse
Department: Business
News Channels: Analytical SCENE
Keywords: consolidation, instrumentation, genetic analysis

A group of former Affymetrix employees hopes to scuttle Thermo Fisher Scientific’s planned $1.3 billion acquisition of the genetic analysis firm with an eleventh-hour $1.5 billion all-cash bid backed by a Chinese private equity firm. However, Affymetrix’ board has rejected the new deal.

“Our offer presents a compelling opportunity for Affymetrix’ stockholders to realize superior value through an attractive premium,” says Wei Zhou, president of Origin . . .

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