- Thinly traded nano cap WaferGen Bio-systems (NASDAQ:WGBS) is up 96% premarket on light volume in response to the announcement that it will be acquired by Takara Bio USA Holdings (formerly Clontech Laboratories), a wholly owned subsidiary of Shiga, Japan-based Takara Bio.
- Under the terms of the merger agreement, the purchase price will be based on a multiple (1.0x - 3.5x) of WaferGen's calendar 2016 revenues and will be capped at $50M. The multiple will be 1.0 if revenues are no greater than $3M and 3.5 if revenues exceed $9M. The transaction should close in February or March 2017 after WaferGen completes its audited 2016 financial statements.