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BGI-Shenzhen Completes $117.6M Deal for Complete Genomics

Complete Genomics is a human genome sequencing and analysis company

Shenzhen, China-based BGI-Shenzhen has completed a $117.6 million deal to buy Complete Genomics. 

The deal was originally announced in September, but the companies had to receive antitrust and CFIUS clearance in the U.S. The deal also had to recieve regulatory approval in China.

BGI paid $3.15 million per share. The company is a genomics organization that did the deal through its subsidiary, Beta Acquisition Corp.

Complete, headquartered in Mountain View, Calif., is a human genomic sequencing company. Before the deal closed it traded on the Nasdaq as GNOM.

In June Complete announced it hired Jefferies & Co. to pursue strategic alternatives. At that point it also announced it was eliminating 55 positions. 

Citi was BGI’s financial adviser, and O’Melveny & Myers LLP represented BGI on the deal. Complete received financial advice from Jefferies, while Latham & Watkins LLP provided legal counsel. 

 

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