USA: $ 21.4-Billion-Acquisition Danaher to Take Over Biopharma Business from General Electric Life Sciences
Danaher has entered into a definitive agreement with General Electric Company to acquire the Biopharma business of GE Life Sciences for a cash purchase price of approximately $ 21.4 billion.
Washington/USA — The acquired business will be established as a stand-alone operating company within Danaher's $ 6.5 billion Life Sciences segment, joining the company's Pall, Beckman Coulter Life Sciences, Sciex, Leica Microsystems, Molecular Devices, Phenomenex and IDT businesses.
GE Biopharma is a provider of instruments, consumables, and software that support the research, discovery, process development and manufacturing workflows of biopharmaceutical drugs. The business is comprised of process chromatography hardware and consumables, cell culture media, single-use technologies, development instrumentation and consumables, and service.
The company expects to finance the all-cash transaction with approximately $ 3 billion of proceeds from an equity offering, and the remainder from available cash on hand and proceeds from the issuance of debt and/or new credit facilities. The transaction is expected to be completed in the fourth quarter of calendar year 2019, and is subject to customary conditions, including receipt of applicable regulatory approvals.