Danaher to acquire Abcam following regulatory clearances

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Danaher to acquire Abcam following regulatory clearances
Credit: © Reuters.

CAMBRIDGE, UK - Abcam plc is set to be acquired by Danaher Corporation (NYSE: DHR ), with the transaction moving forward after receiving all necessary regulatory approvals. The cash acquisition, proposed at $24.00 per share, is now awaiting the final sanction from the High Court of Justice of England and Wales and the fulfillment of certain conditions outlined in a previously published scheme circular.

On August 26, 2023, Abcam, a global leader in life sciences with a mission to advance the understanding of biology and disease causes, announced its intention to be acquired by Danaher. As of today, the acquisition has cleared all required hurdles from governmental authorities. The next steps involve a court hearing scheduled for December 4, 2023, to sanction the scheme, followed by several key dates:

  • December 5, 2023: This marks the last day of trading for Abcam's American Depositary Shares (ADSs) on Nasdaq .
  • December 6, 2023: The scheme is expected to become effective with Nasdaq suspending trading of Abcam ADSs by 8.00 a.m. Eastern Time.
  • Subsequent events include the delisting of Abcam ADSs from Nasdaq on December 15, 2023, and the termination of its ADS program on January 5, 2024.

Founded in 1998 and headquartered in Cambridge, U.K., Abcam has become a trusted partner for approximately 750,000 life science researchers worldwide who utilize its tools for their work. The company's shares are traded in the form of ADSs on Nasdaq.

The acquisition process does not necessitate dealing disclosures from shareholders of either company because it does not fall under the regulation of the U.K. Takeover Code.

While today's announcement includes forward-looking statements about the sale to Danaher, these statements are subject to various risks and uncertainties. Factors that could affect the completion of the transaction include significant costs, potential unknown liabilities, risk of shareholder litigation, and other risks that could impact both Abcam and Danaher.

Investors and stakeholders are watching closely as this acquisition promises to shape Abcam's future in the life sciences industry.

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

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