Danaher Corp. said it will pay $24 a share for Abcam Plc, beating out rivals in a race to acquire the UK-based maker of supplies for the life-sciences industry whose technologies are used by thousands of researchers.
(Bloomberg) — Danaher Corp. said it will pay $24 a share for Abcam Plc, beating out rivals in a race to acquire the UK-based maker of supplies for the life-sciences industry whose technologies are used by thousands of researchers.
The total value of the deal is about $5.7 billion including debt and acquired cash, the companies said Monday in a statement. The transaction is seen closing in mid-2024, and Abcam is expected to operate as a standalone company. Danaher expects to fund the acquisition using cash and debt.
Abcam provides scientists with a variety of laboratory products such as proteins and antibodies used in drug discovery and diagnostics. The acquisition will help Danaher, a maker of laboratory equipment and other supplies, in its efforts to provide full services for customers.
Bloomberg reported Friday that Danaher was leading other bidders including Agilent Technologies Inc. for the acquisition. US-traded shares of Abcam were halted for the news.
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