Danaher agrees to acquire UK’s Abcam for $5.7bn
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Global science and technology provider Danaher has signed a definitive agreement for the acquisition of all outstanding stakes in UK-based protein consumables supplier Abcam in a deal valued at $5.7bn. Under the terms of the agreement, Danaher will acquire all the outstanding shares of Abcam at a price of $24 per share in cash, including assumed debt and net of acquired cash. Upon closing of the deal, Abcam will operate as a standalone company and a brand within Danaher’s Life Sciences segment.
Abcam was established in 1998 and focuses on delivering antibodies and re-agents to address targets in biological pathways vital for progressing drug development and research in the life sciences sector. Danaher president and CEO Rainer Blair said: “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.”
Abcam CEO Alan Hirzel said: “Our strategy has transformed Abcam to become a scale innovator and important catalyst in the global life science community. Danaher shares our passion to help life science researchers achieve their mission faster and their operating company model allows us to continue to pursue our strategy, while harnessing the power of the Danaher Business System to ensure we remain the partner of choice for our customers.”
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