Qiagen shareholders approve $1.6 billion deal with Digene; closing moved up

By Lisa Kerner

Charlotte, N.C., July 20 - Qiagen NV said its shareholders voted overwhelmingly in favor of the acquisition of Digene Corp. at a special meeting held on Friday. As a result, the deal is expected to close earlier than anticipated this quarter, a company news release stated.

The transaction was originally expected to be completed in August or September.

As previously reported, on June 3 Qiagen agreed to acquire Digene in a cash and stock transaction valued at $1.6 billion. Under the agreement, Digene shareholders may elect to receive $61.25 in cash or 3.545 shares of Qiagen stock for each Digene share.

Both companies' boards of directors approved the deal to combine Qiagen's portfolio of sample and assay technologies with Digene's molecular diagnostic testing.

Digene develops proprietary DNA and RNA testing systems in Gaithersburg, Md.

Qiagen is a biotechnology company based in Venlo, the Netherlands.

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