LONDON (Alliance News) - Abcam PLC on Wednesday said gene editing company Horizon Discovery Group PLC has rejected its acquisition proposal.
The life science e-commerce company said it proposed a possible offer for Horizon at a value of 181.00 pence per share to buy Horizon's entire share capital, with the offer valuing Horizon at GBP270.0 million.
The proposal price represents about 26% premium compared to Horizon's closing share price of 144.00p on Tuesday, Abcam said.
Shares in Horizon closed 31% higher at 190.00p per share on Wednesday, while Abcam shares closed up 2.6% at 1,248.00p each.