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Digene pulls out of deal with Cytyc

This article was originally published in Clinica

Executive Summary

HPV diagnostic company Digene has called off its merger with Cytyc, a week after the US Federal Trade Commission (FTC) warned it intended to block the deal citing anti-trust issues in a highly concentrated market. Under the agreement, either company could terminate the stock and cash merger - originally valued at $554m - if the transaction was not carried out on or before June 28. Shares in Cytyc dropped 32 cents to $7.30, while shares in the much smaller Digene fell by around 21% to $9.30.

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