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- Shares of Standard BioTools (NASDAQ:LAB) and SomaLogic (NASDAQ:SLGC) traded lower on Friday after the shareholders of both lab tool makers approved the recently announced merger agreement between the two.
- With investors’ consent obtained, the transaction is expected to conclude on January 5, 2024, subject to other closing conditions, both companies said after two separate special meetings convened in connection with the deal.
- The all-stock deal first announced in October will “create a diversified leader in life science tools, driven by our shared mission to accelerate breakthroughs in human health,” SomaLogic (SLGC) said in a statement.
- “We are pleased with the outcome of today’s Special Meeting and thank our stockholders for their support for this merger,” CEO of Standard BioTools (LAB), Michael Egholm, added.