Biotechnology company Thermo Fisher Scientific said its potential merger with genomics company Affymetrix is its preferred option to another potential deal.
In a statement yesterday, March 28, Thermo Fisher said the merger agreement remains superior despite Affymetrix recently receiving another offer.
The statement comes after Affymetrix received a merger proposal from Origin Technologies on March 22.
Frank Witney, chief executive officer and president of Affymetrix, said: “The value, certainty and timing offered by our existing agreement with Thermo Fisher—scheduled to close in just a few days… outweighs the putatively higher premium but significantly greater uncertainties associated with a potential transaction with Origin.”
Marc Casper, president and chief executive officer of Thermo Fisher Scientific, added: “We are pleased that the Affymetrix board of directors has concluded that our merger agreement remains superior.”
A special meeting of stakeholders at Affymetrix will take place on March 31 where stockholders will be able to consider the approval of the merger.