Danaher Corporation announced on August 28 that it has entered into a definitive agreement to acquire Abcam plc. According to data captured in the LevinPro HC database, this acquisition represents the 94th Laboratories, MRI and Dialysis transaction of 2023.
Danaher will acquire all the currently outstanding shares of Abcam at a price of $24.00 per share in cash. In total, this acquisition is valued at approximately $5.7 billion, which factors in assumed debts and deducts acquired cash.
Abcam Plc is a global life science company, which distributes antibodies and associated protein research tools. Its products include primary and secondary antibodies, proteins, peptides, lysates, biochemicals, immunoassays and other kits. According to its most recent financial report, the company recorded revenue of £361.7 million (approximately $456 million USD) for FY 2022.
Danaher Corporation designs, manufactures and markets professional, medical, industrial and commercial products and services worldwide. According to its most recent financial report, the company’s revenues for FY 2022 were $31.5 billion.
Following the completion, Abcam is anticipated to function as an independent operating entity and maintain its distinct brand identity under Danaher’s Life Sciences segment. Danaher expects to fund the acquisition using cash on hand and proceeds from the issuance of commercial paper. The transaction is anticipated to close mid-2024.
