A second buyer has made an offer to buy the DNA sequencing company Singular Genomics Systems, potentially complicating an offer made last week by the investor Deerfield Management. Tang Capital’s Concentra Biosciences offered to buy all outstanding shares of Singular for $12 a share. That’s $2 a share more than the $10 a share Deerfield offered the company last week. Both already own substantial stakes in Singular, one of several upstarts taking on DNA sequencing giant Illumina. Funds and individuals associated with Deerfield control roughly 27% percent of Singular’s shares. Concentra owns 14.9% of the stock.
Read the full article: Tang Capital’s Concentra Bids for Singular Genomics Days After Deerfield Offer //
Source: https://endpts.com/tang-capitals-concentra-bids-for-singular-genomics-days-after-deerfield-offer/