Danaher's acquisition of Abcam receives approval from High Court of Justice

  • Investing.com
  • Stock Market News
Danaher's acquisition of Abcam receives approval from High Court of Justice
Credit: © Reuters.

LONDON - Danaher Corporation (NYSE: DHR ) is set to acquire Abcam plc, a leading provider of life science research tools, following a court-sanctioned scheme of arrangement. The acquisition aligns with Abcam's mission to support the acceleration of life science research globally and is valued at $24 per share. The company announced it has received approval from the High Court of Justice of England and Wales.

Abcam, known for its innovative reagents and tools that aid approximately 750,000 researchers worldwide, confirmed receipt of the court order sanctioning the buyout. This milestone follows the distribution of a Scheme Circular to shareholders on October 5, 2023, detailing the specifics of the transaction.

The completion of this acquisition marks a significant step for Danaher in expanding its footprint in the life sciences sector. The company's ambition to become the most influential entity in life sciences globally is supported by its efforts to facilitate a deeper understanding of biology and disease mechanisms.

Trading of Abcam ADSs on Nasdaq is expected to be suspended early morning Eastern Time on Wednesday, December 6, 2023, with Tuesday being the final day for trading before the suspension takes effect. This closure and suspension of trading signal the finalization of the transaction.

Abcam's non-applicability under U.K. Takeover Code has negated the need for Rule 8 disclosures. However, forward-looking statements have been issued to disclose potential risks that could affect the completion of the transaction.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100