NeoGenomics to Acquire Genoptix
NeoGenomics, Inc. (NEO) announced on October 23 that the company has entered into a definitive agreement to acquire Genoptix, Inc. NeoGenomics will pay $125 million in cash plus 1 million shares of NeoGenomics common stock according to the agreement. Genoptix is a leading clinical oncology laboratory, and NeoGenomics is the leading provider of cancer-focused genetic testing services.
Sonal notified subscribers of the news event at 7:00 am. The next trade took place at $13.50 when the market opened for regular trading. NeoGenomics closed at $14.10 on the event day. The stock price continued to rise over the next five trading sessions before closing at $17.73 on October 31. That marks a gain of 31.33% in the week following the announcement.
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