(Reuters) -Abcam Plc founder Jonathan Milner on Thursday said he would vote against medical tools supplier Danaher’s proposed $5.7 billion acquisition of the protein consumables manufacturer.
Milner, who is one of the largest investors in Abcam with a 6.14% stake, said he would formally request the board for a general meeting to replace members including chairman, chief executive and chief financial officer.
Milner has served Abcam as CEO from 1999 to 2014 and later as deputy chairman from 2015 to 2020.
Danaher’s $24 per share offer price significantly undervalues Abcam, Milner said.
Milner plans to maintain Abcam’s listing on the Nasdaq market while adding back a main market listing on the London Stock Exchange, he said in a statement.
Cambridge, England-based Abcam manufactures and supplies so-called protein consumables such as antibodies, reagents used for medical research.
(Reporting by Sriparna Roy in Bengaluru; Editing by Maju Samuel)