Complete Genomics, Inc (GNOM)

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BGI-Shenzhen Successfully Completes Tender Offer For Complete Genomics, Inc.
PR NewswirePress Release: BGI-Shenzhen – 32 minutes ago...
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SHENZHEN, China, March 15, 2013 /PRNewswire/ -- BGI-Shenzhen ("BGI") announced today that it, through its wholly-owned subsidiary Beta Acquisition Corporation, has successfully completed its all cash tender offer (the "Offer") to purchase all outstanding shares of common stock of Complete Genomics, Inc. (GNOM) ("Complete"). The Offer expired at 11:59 p.m. (New York City time) on Thursday, March 14, 2013. The Depositary for the Offer has indicated that, as of the expiration of the Offer, approximately 31,403,880 shares, or approximately 88%, of the common stock of Complete were validly tendered in and not withdrawn from the Offer, including shares of common stock of Complete subject to guaranteed delivery procedures. Beta Acquisition Corporation accepted all such validly tendered shares and payment for such shares will be made promptly in accordance with the terms of the Offer.

Beta Acquisition Corporation intends to exercise its "top-up" option and thereafter will own sufficient common stock of Complete necessary to effect a "short-form" merger under Delaware law, pursuant to which Complete will become a wholly-owned subsidiary of BGI, without the need for a meeting of Complete shareholders. In connection with the short-form merger, each outstanding share of Complete common stock will be converted into the right to receive $3.15 per share, the same price per share paid in the tender offer. Upon completion of the merger, Complete's shares will cease to be traded on the NASDAQ Global Market. BGI's financial advisor is Citi, and its legal counsel is O'Melveny & Myers LLP. Complete's financial adviser is Jefferies & Company, and its legal counsel is Latham & Watkins LLP.