Mario Gabelli Comments on Cepheid

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Jan 31, 2017

Cepheid (NASDAQ:CPHD) is a medical diagnostic and testing equipment company based in Sunnyvale, California. On September 6, 2016, Danaher agreed to acquire Cepheid for $53 cash per share, or $4 billion, in order to expand its molecular diagnostics business. The merger received the necessary regulatory and shareholder approvals and closed on November 4, 2016. The Fund earned a 6.58% annualized return.

From Mario Gabelli (Trades, Portfolio)'s ABC Fund fourth quarter 2016 commentary.