GE to Acquire Whatman
General Electric Company (GE) and Whatman have completed a deal whereby GE will acquire Whatman for $717 million. The agreed-upon deal provides Whatman with twelve percent more than the company’s closing price as of February 1st, the last day of trading before the deal was announced. The contract completion was published on Bloomberg News.
Whatman Plc. manufactures DNA-based tools used in drug research and also by police and crime laboratories for forensic analysis. Particularly beneficial tools from GE include membranes and filtration products for General Electric Healthcare’s Life Sciences Division, in addition to other equipment. GE is the world’s largest manufacturer of medical imaging equipment.
GE Life Sciences will completely absorb all of Whatman. That arm of the GE business is dedicated to protein science and cellular research. The organization also provides tools to manufacture biopharmaceutical products.
February 7, 2008 Related topics: Laboratory Equipment, Mergers & Acquisitions