Affymetrix To Engage In Talks With Origin Technologies

(RTTNews) - Affymetrix, Inc. (AFFX) announced that it will engage in talks with Origin Technologies Corporation, LLC regarding its unsolicited merger proposal submitted on March 22, 2016 to acquire the Company for $17.00 per share in an all-cash transaction.

Affymetrix said that Origin needs to outline specific terms of its proposal and provide copies of certain funding financing documents, as well as details on plans to obtain regulatory approvals including from the Committee on Foreign Investment in the U.S. There can be no assurance as to the outcome of any discussions with Origin.

The Affymetrix Board continues to recommend that its stockholders vote in favor of the adoption of the merger agreement with Thermo Fisher Scientific Inc's. (TMO) $14 per share .

Morgan Stanley is acting as financial advisor to Affymetrix, and Davis Polk & Wardwell LLP and Richards, Layton & Finger, PA are serving as legal counsel.