Tags: Life Technologies | Bids | Billion | Blackstone

Life Technologies Said to Draw Bids for Up to $11.8 Billion

Wednesday, 10 Apr 2013 01:03 PM

Life Technologies Corp. got takeover offers from a private-equity group including Blackstone Group LP, and from Thermo Fisher Scientific Inc., for as much as $11.8 billion, said people familiar with the matter.

The offers came in at $66 to $69 a share, said two of the people, who asked not to be named as the process is private. Life could pick a buyer as soon as next week or decide against a sale, said one of the people.

Blackstone’s bidding group consists of Carlyle Group LP, KKR & Co. and Singapore’s Temasek Holdings Pte., the people said. KKR joined New York-based Blackstone after fellow private- equity firm TPG Capital dropped out of the consortium last month, people familiar with the matter have said.

Life, whose market value exceeds $11 billion, has been reviewing its options for at least three months. The Carlsbad, California-based company’s products can be used to provide a blueprint of a person’s DNA, information that may eventually be used to diagnose disease, identify the risks of certain conditions or better target medicines.

Danaher Corp. also explored a purchase of Life, people familiar with the matter have said. The company is unlikely to have bid, said one of these people. Life said in January that it was working with Deutsche Bank AG, as well as Moelis & Co., on the strategic review.

A spokeswoman at KKR declined to comment. Representatives at Thermo Fisher, Blackstone and Life didn’t immediately return calls seeking comment, nor did officials at Danaher and Carlyle.

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Life Technologies Corp. got takeover offers from a private-equity group including Blackstone Group LP, and from Thermo Fisher Scientific Inc., for as much as $11.8 billion, said people familiar with the matter. The offers came in at $66 to $69 a share, said two of the...
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2013-03-10
Wednesday, 10 Apr 2013 01:03 PM
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