Acquisitions In Brief
This article was originally published in The Gray Sheet
Executive Summary
Invitrogen deal for Applied Biosystems valued at $6.7 billion: Applera sells its Applied Biosystems research instrument business to biotech research firm Invitrogen for cash and stock worth $6.7 billion, creating "a global leader in biotechnology reagents and systems," the firms announce June 12. Invitrogen will pay $38 per share for Applied Biosystems - a 17% premium over the firm's June 11 closing price. Applera notes that the transaction, expected to close this fall, will have minimal impact on the timing of its previously planned spin-off of its smaller Celera Group diagnostics business, which is scheduled for July (1"The Gray Sheet" May 12, 2008, In Brief)