Qiagen: Tender for Digene ends with more than 90% of shares tendered

By Lisa Kerner

Charlotte, N.C., July 23 - Qiagen NV said its cash and stock exchange offer for all outstanding shares of Digene Corp. ended as planned on July 20, with more than 90% of shares tendered, according to preliminary results.

The company intends to accept all tendered shares and will complete its acquisition of Digene through a merger that does not require Digene stockholder approval under Delaware law.

As previously reported, Qiagen shareholders voted overwhelmingly in favor of the Digene acquisition. Qiagen agreed in June to acquire Digene in the cash and stock transaction valued at $1.6 billion. Under the agreement, Digene shareholders may elect to receive $61.25 in cash or 3.545 shares of Qiagen stock for each Digene share.

Digene develops proprietary DNA and RNA testing systems in Gaithersburg, Md.

Qiagen is a biotechnology company based in Venlo, the Netherlands.

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