GNSL acquires Cartesian, restructures

Genomic Solutions (GNSL) will acquire Cartesian Technologies (Irvine, Calif.), a provider of high throughput screening, microarray production and combinatorial chemistry services, as part of GNSL's restructuring and profitability plan. GNSL will issue 6,800,681 shares, valued at $13.7 million based on GNSL's Thursday close at $2.01. GNSL also will issue options to purchase 449,319 shares and $2.5 million in cash for the acquisition, which GNSL said offers revenue and cost reduction opportunities. ...