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Article: Invitrogen Adding New Products Via $130M BioSource Purchase.
- 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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Staff Writer
In order to grow in the area of proteomics, Invitrogen Corp. signed a definitive agreement to acquire BioSource International Inc. for about $130 million in cash.
Camarillo, Calif.-based BioSource has been actively looking for a purchaser since April, when its board rejected an offer by Bio-Rad Laboratories Inc. Bio-Rad, of Hercules, Calif., offered $8.50 a share, or about $82 million in cash, but the largest stockholder of BioSource, Genstar Capital Partners II LP, said the proposed price was significantly below the company's inherent value.
In contrast, Genstar and another investor, Stargen II LLC - which together hold 22 percent ...