Danaher Acquires Abcam for $5.7 Billion
Danaher announced the acquisition of the biotechnology company Abcam plc in a deal valued at $5.7 billion. Abcam is a leading supplier of life science protein research tools that specializes in providing antibodies, reagents, and kits. The addition of Abcam to Danaher’s Life Science segment will enhance their capability to drive innovation and development in the life science sector.
Details on the Acquisition
In a press release on August 28, Danaher announced they had entered into an agreement to purchase the life science company Abcam. They will acquire all of Abcam’s outstanding shares at a price of $24.00 per share. The total value of the sale is approximately $5.7 billion. This includes both assumed debts and net acquired cash. In regards to Abcam’s operations, it is expected to operate under Danaher’s Life Science segment as a standalone company.
Abcam’s board announced in June 2023 that it was exploring strategic alternatives that included selling the company. Amongst a pool of 20 prospective buyers, Danaher emerged as the victor. The acquisition has been approved by both Danaher’s and Abcam’s boards of directors. Moreover, the deal is expected to be finalized around mid-2024. Danaher expects to use cash on hand and funds from the issuance of commercial paper to fund the acquisition.
Fostering Innovation in Life Sciences
Abcam is a well-established life science company based in the UK. Their goal is to help accelerate breakthroughs in research and drug discovery by providing the necessary tools. Their main products include primary and secondary antibodies, ELISA kits, knockout cell lines, lysates, and proteins, among others. Abcam believes that their vision aligns with Danaher’s in aiding the life science community to accomplish their research goals.
To underscore this shared vision, Danaher’s President and Chief Executive Officer, Rainer M. Blair, said, “We couldn’t be more excited to have Abcam join Danaher. Abcam’s long track record of innovation, outstanding product quality and breadth of antibody portfolio positions them as a key partner for the scientific community. We look forward to welcoming Abcam’s innovative and talented team to Danaher as we continue to help our customers solve some of the world’s biggest healthcare challenges.”
Over recent years, Danaher has made several acquisitions, the latest being this acquisition of Abcam. The series of purchases includes that of GE Biopharma for $21.4 billion in 2020. More recently, they acquired the CDMO, Aldevron, for $9.6 billion in 2021. With this acquisition, Dahaner is looking to broaden its offering in the life science area. As well as aiding in their strategy to discover drugs and map disease.©www.geneonline.com All rights reserved. Collaborate with us: email@example.com