Gen-Probe secures $170m credit for Tepnel buy
This article was originally published in Clinica
Executive Summary
Nucleic acid tests developer Gen-Probe has secured the required financing for its proposed $132m acquisition of UK firm Tepnel Life Sciences. Gen-Probe said on March 2 that it was borrowing $170m under a newly-issued line of credit provided by the Bank of America. The money will also go towards supporting other general corporate activities.