Roche and GenMark Diagnostics announced that they have entered into a definitive merger agreement for Roche to fully acquire GenMark at a price of US$ 24.05 per share in an all-cash transaction. This corresponds to a total transaction value of approximately US$ 1.8 billion on a fully diluted basis. The transaction is expected to close in the 2nd quarter of 2021 and is subject to customary closing conditions, including the tender of at least a majority of the outstanding shares of GenMark’s common stock and the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
Citi is acting as financial advisor to Roche and Sidley Austin is acting as legal counsel to Roche. J.P. Morgan Securities is acting as exclusive financial advisor to GenMark and DLA Piper LLP is acting as legal counsel to GenMark. As reported by Mergermarket, Roche general counsel Claudia Bockstiegel (pictured) followed this transaction.