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Swiss Pharma Company Roche Buys Covid Test Maker GenMark Diagnostics

Swiss Pharmaceutical Company Roche announced on Mon. March 15 that it has agreed to acquire U.S. based GenMark Diagnostics for $1.8 billion. GenMark Diagnostics manufactures molecular diagnostic tests and manufactured the rapid-result PCR COVID-19 test.

Acquisition Details

Roche said it had signed a definitive merger agreement with GenMark after both companies’ boards approved of the deal. This is an all-cash deal. The Swiss pharma company said that it will launch a tender offer to fully acquire GenMark at a price of $24.05 per share. This price represents a premium of 43% on GenMark’s closing share price on Feb. 10. The acquisition is expected to be completed during the second quarter of 2021. Upon closing of the deal, GenMark’s operations will continue at their current location in…

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