Affymetrix's board of directors today dismissed the most recent bid by Origin Technologies to acquire Affy for $17.00 per share in an all-cash transaction, reaffirming its support for a previously approved merger agreement with Thermo Fisher Scientific at $14 per share.

Now, saying it has devoted "extensive time and resources to engaging with Origin," Affy has once more rejected the company's offer in favor of its existing merger agreement with Thermo Fisher.

Thermo Fisher Scientific's proposed acquisition of Affy for approximately $1.3 billion in January 8, 2016, which the boards of directors of both firms unanimously approved.

Origin Technologies Corporation, founded by former Affymetrix executives for the purpose of purchasing the company, proposed today to acquire Affy for $16.10 per share in an all-cash transaction valued at approximately $1.5 billion and 75 percent premium. Origin also pledged to fund payment of the $55 million termination fee that would be due to Thermo under the terms of Thermo and Affy's January agreement.

But the Affy board of directors valued Thermo’s platform and fame, and suitable for company's long-term development. So they refused to consider Origin's first bid.

In response, Origin upped its bid to $1.85 billion, or $17.00 per share, including a $100 million reverse termination fee in March 24,

Recebtly, Affy refused to consider Origin's second bid again. In order to honor its fiduciary duty to shareholders, Affy said last week that it was postponing until March 31 a meeting that was to take place last Friday in which shareholders were to vote on the Thermo Fisher deal.