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Danaher intends to acquire Abcam, a provider of life sciences assays and reagents, for $5.7 billion.
On Aug. 28, 2023, Danaher, an innovator of science and technologies, announced that it has entered into a definitive agreement to acquire UK-based Abcam, a supplier of protein consumables, for approximately $5.7 billion ($24.00 per share). Under the agreement, Abcam will operate as a standalone operating company and brand within the life sciences segment of Danaher.
The transaction, which is expected to close in mid-2024, is in line with Danaher's strategy to facilitate the mapping of complex diseases and accelerate the drug discovery process. According to a company press release, Danaher expects to fund the acquisition with cash on hand and proceeds from the issuance of commercial paper.
Headquartered in Cambridge, UK, Abcam supplies validated antibodies, reagents, biomarkers, and assays. The company’s offerings help researchers to address targets in biological pathways that are considered critical for advancing drug discovery as well as life sciences research and diagnostics.
"We couldn't be more excited to have Abcam join Danaher. Abcam's long track record of innovation, … product quality, and breadth of antibody portfolio positions them as a key partner for the scientific community,” said Rainer M. Blair, president and CEO, Danaher, in the company press release. “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."
"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 [its] 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," said Alan Hirzel, CEO, Abcam, in the release.