Danaher to acquire Abcam for $5.7 billion 28th August 2023
Danaher Corporation has agreed to acquire Abcam PLC, the two companies said today.
This acquisition deal sees Danaher purchasing all the currently outstanding shares of Abcam at a price of $24.00 per share in cash. In total, this acquisition is valued at approximately $5.7 billion, which factors in assumed debts and deducts acquired cash.
Abcam shares rose 3.9% higher on Friday after Reuters reported Danaher was in the lead to acquire the company.
Danaher, one of the world’s largest suppliers of diagnostic tools with a market value of $190 billion, has turned to dealmaking to expand in the sector. Abcam’s antibody and reagent solutions could help Danaher win more and bigger contracts with some customers.
Following the completion, Abcam is anticipated to function as an independent operating entity and maintain its distinct brand identity under Danaher’s Life Sciences segment.
“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,” said Rainer M. Blair, president and chief executive officer of Danaher.
The transaction is anticipated to close mid-2024 with Danaher said it expects to fund the acquisition using cash on hand and proceeds from the issuance of commercial paper.