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Danaher To Acquire Abcam In About $5.7 Bln All-cash Deal
(RTTNews) - Science and technology innovator Danaher Corp. (DHR) announced Monday that it has entered into a definitive agreement to acquire Cambridge, UK-based Abcam plc (ABCM), a supplier of protein consumables, pursuant to which Danaher will acquire all of the outstanding shares of Abcam for $24.00 per share in cash, or a total enterprise value of approximately $5.7 billion, including assumed indebtedness and net of acquired cash.
Abcam is expected to operate as a standalone operating company and brand within Danaher's Life Sciences segment, furthering Danaher's strategy to help map complex diseases and accelerate the drug discovery process.
Danaher expects to fund the acquisition using cash on hand and proceeds from the issuance of commercial paper.
The transaction is anticipated to close mid-2024 and is subject to customary conditions, including receipt of applicable regulatory approvals and Abcam shareholder approval.
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