Gen-Probe to acquire Tepnel

Gen-Probe (NASDAQ:GPRO) will acquire fellow diagnostics company Tepnel (LSE:TED) for 27.1p per share, or about L92.8 million ($127.2 million) in cash. The price represents a 126% percent premium to Tepnel's close of 12p on Jan. 21, the day before the company said it had received an offer from an undisclosed company. Tepnel's molecular diagnostics division markets products including Lifecodes HLA kits for DNA typing of transplant patients, and its research products and services division provides services to pharmaceutical and biotech companies. For the six months ended June 30, 2008, Tepnel had L11.8 million ($23.5 million) in revenue. ...