Roche Begins Tender Offer For GenMark Diagnostics For $24.05/shr In Cash

(RTTNews) - Swiss drug major Roche (RHHBY) said that it has commenced a cash tender offer for all of the outstanding shares of common stock of GenMark Diagnostics Inc. (GNMK) at a price of $24.05 per share.

The deal price represents a premium of about 43% to GenMark's unaffected closing share price on February 10.

The tender offer period will expire on April 21, 2021, unless the offer is extended.

The closing of the transaction is expected to take place in the second quarter of 2021.

Roche said in mid-March that it agreed to buy GenMark Diagnostics in $1.8 billion deal.