QIAGEN Exchange Offer for Digene Corporation Expired With Significant Over 90% of Shares Tendered
24 Jul 2007 -
QIAGEN N.V. announced that its offer to exchange cash and stock for all outstanding shares of Digene Corporation expired as scheduled at 11:59 p.m., New York City time, on Friday, July 20, 2007. All conditions of the exchange offer have either been satisfied or waived, and QIAGEN intends to accept all tendered shares. Preliminary tabulations indicate that the number of shares tendered constituted well in excess of 90% of the outstanding stock. Accordingly, QIAGEN intends to complete its acquisition of Digene by effectuating a merger without the approval of the Digene stockholders, as permitted under Delaware law, promptly after its acceptance of the shares. Pro-ration calculations will be announced when completed, and payment for the Digene shares will be made as soon as practicable.
QIAGEN received the vote of the necessary percentage of its shareholders in favor of the acquisition of Digene at QIAGEN's Extraordinary General Meeting of Shareholders. Additionally, the antitrust waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 expired at 11:59 pm EDT on July 16, with respect to the previously announced merger of the two companies.
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