Sequenom Inc. Commences Exchange Offer to Acquire EXACT Sciences Corporation

SAN DIEGO--(BUSINESS WIRE)--Sequenom, Inc. (NASDAQ: SQNM) today announced that it has commenced an exchange offer to acquire all of the outstanding shares of common stock of EXACT Sciences Corporation (NASDAQ: EXAS) in an all-stock exchange valued at approximately $41 million. Subject to the terms and conditions of the offer, each share of EXACT Sciences is exchangeable for $1.50 in Sequenom common stock, subject to a 15% collar that fixes the exchange ratio if the price of Sequenom common stock used to establish the exchange ratio is more than $28.06 per share or is less than $20.74 per share.

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