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Article: GE Healthcare Offers SEK3.2B In Cash To Purchase Biacore.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BioWorld International Correspondent
GE Healthcare, a division of GE Corp., is looking to enter the real-time label-free protein interaction analysis market by acquiring Biacore AB for SEK330 per share, an offer that values the company at SEK3.2 billion (US$435.9 million) or about SEK2.9 billion net of Biacore's cash reserves.
The offer represents a premium of 19 percent over the company's closing share price Monday, and a premium of 35 percent on the stock's weighted average over the past month.
Pfizer Inc., of New York, which holds a 41 percent stake in Uppsala, Sweden-based Biacore, is backing the bid. So, too, are Biacore's management and ...