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Complete Genomics Rejects Counter Bid

November 14, 2012 | Complete Genomics received an unsolicited counter bid on November 5 that could have disrupted the firm's ongoing acquisition by BGI. The bid, from "Party H", was for $3.30 per share, 5% more than the BGI offer price, however Complete Genomics rejected the offer on November 8. After reviewing the proposal, the Complete board decided that the new offer did not constitute a "superior proposal" because it would likely not receive antitrust clearance. Street Insider 

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