Affymetrix Inc., the DNA-testing company at the center of a takeover battle, said it will enter talks with Origin Technologies Corp. after the suitor boosted its offer to $17 a share.
Origin needs to outline specific terms of its bid and provide copies of financing documents, as well as details on plans to obtain regulatory approvals including from the Committee on Foreign Investment in the U.S., Affymetrix said in a statement dated Wednesday. There’s no certainty on the outcome of any talks, and Affymetrix hasn’t determined the Origin proposal is superior, according to the statement.
