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Hologic closes $4B Gen-Probe buyout | Wall Street Beat

Thu, 08/02/2012 - 3:00am
Mass Device

Hologic completes its $4 billion acquisition of Gen-Probe and puts up solid numbers for its fiscal 3rd quarter, sending shares up nearly 3% since July 30.

MassDevice.com Wall Street Beat

Hologic (NSDQ:HOLX) said its nearly $4 billion buyout of molecular diagnostics giant Gen-Probe (NSDQ:GPRO) is in the books, a day after Gen-Probe's shareholders OK'd the $82.75-per-share deal.

The acquisition, valued at about $3.7 billion, puts Hologic in the top tier of the diagnostics space, outside of its traditional market, women's health.

Hologic said the deal should add 20¢ per adjusted share during fiscal 2013 and should be "significantly more accretive" thereafter.

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