Applied Biosystems offered $6.7B by Invitrogen
Applera Corp.’s Applied Biosystems Group is the target of a $6.7 billion acquisition offer by Invitrogen Corp., the company said Thursday.
The offer, in cash and stock, would create a global leader in biotechnology research tools and supplies, with an estimated $3.5 billion in combined sales, the companies said.
The boards of directors of both companies have approved the agreement. If closed, the combination would create Applied Biosystems Inc., which would have its corporate headquarters in Carlsbad.
Applied Biosystems (NYSE: ABI), is based in Foster City and maintains a campus in Pleasanton as well fast cash advance. Invitrogen is based in Carlsbad.
The transaction is expected to close by fall 2008, subject to regulatory approvals and the completion of Applera’s Celera group — its Alameda operating group — splitting off from the company, which is due expected to occur July 1.