Gen-Probe

That meant that Novartis, the Swiss health-care giant, was less motivated as a potential buyer because it didn't face competition for Gen-Probe, which is based in San Diego and sells tests for AIDS and other sexually transmitted diseases, these people added.

Novartis No Longer Pursuing Gen-Probe Gina Chon 2011

Gen-Probe shed 10.35, or 13%, to 71.41, after The Wall Street Journal reported that most bidders have dropped out of the nearly concluded auction for the U.S. medical diagnostic-testing company.

Stocks Resume Fall, Off 61.30 More Points Brendan Conway 2011

People close to the auction process have said Gen-Probe was seeking a price in the mid-80s per share or higher, but a number of bidders balked at such a valuation.

Novartis Outlasts Gen-Probe Bidders Dana Cimilluca 2011

Gen-Probe shares have already run up substantially since news of the auction surfaced this spring.

Novartis Outlasts Gen-Probe Bidders Dana Cimilluca 2011

Bidders previously thought to be in the running for Gen-Probe included Life Technologies Corp. and Thermo Fisher Scientific Inc. Novartis AG now appears to be last remaining potential buyer, the Journal reported.

As Gen-Probe Suitors Pull Out, So Do Options Traders Brendan Conway 2011

Other bidders that had been in the running to buy Gen-Probe—including Life Technologies Corp. and Thermo Fisher Scientific Inc.—are now on the sidelines, according to people familiar with the matter.

Novartis Outlasts Gen-Probe Bidders Dana Cimilluca 2011

Gen-Probe, which was reported to be a takeover target about six weeks ago, had been seeking a buyout offer valuing the company in the mid-$80s per share or higher, people familiar with the matter told the Journal.

As Gen-Probe Suitors Pull Out, So Do Options Traders Brendan Conway 2011

More Deal Journal : Gen-Probe Shares Fall But it is not clear that Novartis will strike a deal for Gen-Probe, and if it does, how soon it would do so and at what price.

Novartis Outlasts Gen-Probe Bidders Dana Cimilluca 2011

The auction of U.S. medical diagnostic-testing company Gen-Probe Inc. neared a conclusion Monday with most bidders dropping out and Novartis AG appearing to be the most likely buyer—assuming there is a deal at all.

Novartis Outlasts Gen-Probe Bidders Dana Cimilluca 2011

Gen-Probe shares closed Friday at $81.76 on the Nasdaq Stock Market, giving the company a market value of $3.9 billion.

Novartis Outlasts Gen-Probe Bidders Dana Cimilluca 2011