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PerkinElmer to buy Caliper Life Sciences in USD600m cash deal.

M2 PHARMA-September 8, 2011-PerkinElmer to buy Caliper Life Sciences in USD600m cash deal(C)2011 M2 COMMUNICATIONS

8 September 2011 - US safety and technology solutions company PerkinElmer Inc (NYSE:PKI) today announced a USD600m (EUR427m) cash deal to acquire imaging and detection solutions firm Caliper Life Sciences Inc (NASDAQ:CALP).

The takeover helps PerkinElmer expand its portfolio via the addition of molecular imaging and detection technologies.

The purchase price of USD10.50 a share is a premium of 42% to Caliper's closing share price on Wednesday, PerkinElmer said.

The transaction, which was cleared by both companies boards, is pending shareholder approval and is expected to be finalised in the fourth quarter of 2011. It will dilute the buyer's 2012 GAAP EPS by some USD0.05 and will contibute to its 2012 first call consensus adjusted EPS by about USD0.08.

PerkinElmer was advised by Bank of America Merrill Lynch and Rothschild, while Perella Weinberg Partners consulted Caliper Life Sciences and its board.

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Publication:M2 Pharma
Date:Sep 8, 2011
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