September 2012: Complete Genomics announces acquisition by BGI at $3.15 per share
The Basics
- Press Release announcing GNOM restructuring and hiring of Jefferies to explore strategic alternatives (6/5/2012)
- Press Release announcing the merger (9/2012)
- Official Plan of Merger document with all the terms and conditions between BGI and GNOM (9/2012)
- Tender and Support Agreement: details which executives and VC backers have agreed to sell their shares - and which haven't (9/2012)
- SEC filing TO-T with narrative about deal history (9/2012) - and click here for key excerpts/comments
Illumina: relationship and competition with GNOM, litigation, role in BGI deal, and hostile bid
- ILMN files patent infrigenment suit against Complete Genomics over US patent 6,306,597 (?? date)
- Illumina announces favorable claims construction ruling (2/2012)
- ILMN files second patent infringement lawsuit against GNOM involving US patent 8,192,930 (6/18/2012)
- Illumina launches two-week turnaround time whole genome sequencing service (6/20/2012)
- Notes from relevant discussion on ILMN 2q-2012 earnings conference call (8/2012)
- ILMN announces CLIA grade rapid individual WGS services (9/11/2012)
- Bloomberg article in which ILMN CEO makes interesting comments about GNOM-BGI deal (9/18/2012)
- Patent suit judge throws out certain claims in '597 patent suit (10/18/2012)
- SEC form 8-k in which ILMN violates its confidentiality agreement with Complete Genomics and self-identifies itself as "Party H" from the bidding process and confirms that it made a new $3.30 cash offer on November 5, 2012 (11/16/2012)
- Letter from Illumina to GNOM arguing in favor of their merger proposal and why BGI deal will fail to close (11/20/2012)
- PropThink article in response the ILMN bid (11/23/2012)
- BiotechDueDiligence blog response to above PropThink article (11/23/2012)
- Letter from BGI to GNOM rebutting the letter from ILMN (11/25/2012)
- Patent judge agrees to reconsider the decision against ILMN from October 2012 with hearing set for 1/8/2013. (11/26/2012)
- Politico article summarizing the ILMN-BGI spat about national security worries (12/4/2012)
- PropThink summary of the above events (12/5/2012)
The latest wrinkle...
- GNOM SEC filing regarding new interaction with "Party J" from bidding process (11/28/2012) - seemingly indicating that they are open to a private, but not public pursuit of a transaction
- The orginal merger SEC filings indicate that Party J was a private equity/financial type of interested party, so Party J is not another life sciences or pharmaceutical company like LIFE, Roche, Pfizer, etc.