SAN DIEGO, Feb. 7, 2011 /PRNewswire/ — Genoptix, Inc. (Nasdaq:
GXDX) announced today that the Federal Trade Commission has
granted early termination of the waiting period under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended
(the “HSR Act”) applicable to the cash tender offer by Novartis to
purchase all outstanding shares of common stock of Genoptix at
USD$25.00 per share.
The termination of the HSR Act waiting period satisfies one of
the conditions necessary for the consummation of the tender offer.
The tender offer is scheduled to expire at 12:00 midnight, New York
City time, on Friday, February 25, 2011 (which is the end of
the day on February 25, 2011), unless the tender offer is
extended. Consummation of the tender offer remains subject to other
customary conditions, including the tender of a majority of the
outstanding shares of Genoptix’s common stock, determined on a
fully diluted basis.
About Genoptix, Inc.
Genoptix is a specialized laboratory service provider focused on
delivering personalized and comprehensive diagnostic services to
community-based hematologists and oncologists. Genoptix is
headquartered in Carlsbad, California.
This press release is neither an offer to purchase nor a
solicitation of an offer to sell shares of Genoptix.
The tender offer for shares of Genoptix described in this press
release commenced on January 28, 2011. Novartis has filed a
tender offer statement on Schedule TO with the Securities and
Exchange Commission (the “SEC”) and Genoptix has filed a
solicitation/recommendation statement on Schedule 14D-9 with the
SEC. Genoptix stockholders and other investors should read
these materials carefully because they contain important
information, including the terms and conditions of the tender
offer. These materials and any other documents filed