UPDATE 1-Genzyme buys some assets, 3 mln shrs of Exact Sciences

mercoledì 28 gennaio 2009 00:30

Jan 27 (Reuters) - Exact Sciences (EXAS.O: Quotazione), which develops technologies that detect cancer, said Genzyme Corp GENZ.O bought certain assets related to prenatal and reproductive health and 3 million of its shares, in a deal that will see Exact receive $24.5 million in cash.

Genzyme purchased the shares at $2 per share for an aggregate purchase price of $6 million. The per-share offer price is 34 percent more than Exact's closing price of $1.49 Tuesday on Nasdaq.

In trading after the bell, shares of Exact were up 23 percent at $1.83.

Earlier this month, Sequenom Inc SQNM.O made an offer to Exact shareholders to buy the company for about $41 million, two days after its bid was rejected by Exact's board. (Reporting by Anand Basu in Bangalore; Editing by Pratish Narayanan)