MOUNTAIN VIEW, Calif. (AP) — Chinese genomics company BGI-Shenzhen is buying Complete Genomics for approximately $113.1 million, the companies said Monday.
BGI-Shenzhen will pay $3.15 in cash per Complete Genomics share, which is an 18 percent premium to the company's Friday closing price of $2.67. The companies value the deal at about $117.6 million.
Complete Genomics Inc.'s stock jumped 38 cents, or 14.2 percent, to $3.05 in morning trading on Monday. Over the past year, the shares have traded in a range of $1.57 to $9.26. Complete Genomics went public in November 2010 at $9 per share.
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