Life Technologies to Sell Mass Spectrometry Business to Danaher for $450 Million in Cash
“The sale of our mass spectrometry business will enable us to continue our focus on our core competencies,” said Greg Lucier, Chairman and Chief Executive Officer of Life Technologies. “By concentrating on biological solutions that leverage our expertise in DNA, RNA, proteins and cells, we will continue to drive breakthroughs in life science research, genomic medicine, molecular diagnostics and applied markets.”
Life Technologies does not expect the sale of its mass spectrometry business to affect its previously announced full year 2009 earnings expectations. In addition, the company reiterated its synergy targets for the Invitrogen and Applied Biosystems merger of $95 million in 2009 and $175 million by 2011.
The transaction is subject to customary closing conditions, and is also conditioned upon the completion of MDS Inc.’s sale of its Analytical Technologies division, which itself is conditioned upon approval from MDS’ shareholders. The transaction is expected to close in the fourth quarter of 2009 and is not subject to any financing conditions. Moelis & Company and Thomas Weisel Partners are acting as financial advisors and DLA Piper is serving as legal counsel to Life Technologies.
Other news from the department business & finance
Most read news
More news from our other portals
See the theme worlds for related content
Topic World Mass Spectrometry
Mass spectrometry enables us to detect and identify molecules and reveal their structure. Whether in chemistry, biochemistry or forensics - mass spectrometry opens up unexpected insights into the composition of our world. Immerse yourself in the fascinating world of mass spectrometry!
Topic World Mass Spectrometry
Mass spectrometry enables us to detect and identify molecules and reveal their structure. Whether in chemistry, biochemistry or forensics - mass spectrometry opens up unexpected insights into the composition of our world. Immerse yourself in the fascinating world of mass spectrometry!