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news.Exact Sciences, an applied genomics company, has announced that its board of directors has unanimously rejected an acquisition proposal by Sequenom, a genetics and molecular diagnostic company, to acquire Exact for $1.50 per share in Sequenom common stock, subject to a collar.
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The board, after reviewing the proposal with its financial and legal advisors, has determined to reject the proposal.
The company is actively pursuing a strategic alternative that the board believes can provide greater value to Exact and its shareholders than the Sequenom proposal.