Danaher to Buy Abcam in $5.7 Billion Deal
August 28 2023 - 7:13AM
Dow Jones News
By Colin Kellaher
Life-sciences giant Danaher has agreed to buy Abcam, a supplier
of protein consumables, in a deal carrying a total enterprise value
of about $5.7 billion, including assumed debt.
Danaher on Monday said it would pay $24 a share in cash for
Abcam, a scant 2.7% premium to Friday's closing price of $23.36 for
the U.K.-based company.
Danaher said Abcam will operate as a standalone company and
brand within its life-sciences segment, furthering its strategy to
help map complex diseases and accelerate the drug-discovery
process.
Washington-based Danaher said it plans to fund the deal, slated
to close in mid-2024, with cash on hand and proceeds from the
issuance of commercial paper.
Trading in shares of Abcam was halted premarket on Monday.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
August 28, 2023 07:58 ET (11:58 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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