Qiagen completes exchange offer for Digene

By Lisa Kerner

Charlotte, N.C., July 26 - Qiagen NV said 23,270,298 shares, or 94.6%, of Digene Corp.'s outstanding common stock were tendered in Qiagene's exchange offer ended July 20.

A short-form merger, in which Qiagen will acquire all other Digene shares, is slated to be completed on July 30.

Digene stockholders elected to receive Qiagen ordinary shares in exchange for approximately 90% of the Digene shares tendered, resulting in a proration of Digene common stock elections. Proration calculations will be announced on or before Aug. 2, a company news release stated.

As previously reported, Qiagen agreed to acquire Digene in a 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., and Qiagen is a biotechnology company based in Venlo, the Netherlands.

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