SomaLogic leaders urge shareholder support of merger in face of investor opposition

BOULDER — Leaders of SomaLogic Inc. (Nasdaq: SLGC) are attempting to rally shareholder support for a planned $1 billion merger with California-based Standard BioTools Inc. (Nasdaq: LAB), even  as a major investor in the Boulder-based biotechnology company is calling for a rejection of the deal. 

Madryn Asset Management, a New York investment firm that claims to own 4.2% of SomaLogic’s outstanding shares, told shareholders this month that Madryn believes the merger to be an “inherently flawed and one-sided combination with Standard,” that “drastically undervalues SomaLogic.”

The deal, which was unanimously approved by the boards of directors of both companies, establishes a…