Danaher to Buy Aldevron for About $9.6 Billion in Cash
17 June 2021 - 11:49PM
Dow Jones News
By Colin Kellaher
Danaher Corp. on Thursday said it agreed to pay about $9.6
billion in cash to buy Aldevron LLC, a contract development and
manufacturing organization that specializes in making biologics for
the pharmaceutical and biotechnology industry.
The Washington science and technology conglomerate said it plans
to fund the deal with cash on hand and/or the issuance of
commercial paper.
Stockholm-based EQT AB in 2019 acquired a majority stake in
Aldevron from fellow private-equity firm TA Associates, which
retained a minority interest.
Danaher said Aldevron, based in Fargo, N.D., employs about 600
people and makes plasmid DNA, mRNA and proteins. The company has
recently been working with Moderna Inc. to support that company's
Covid-19 vaccine and other programs in its clinical pipeline.
Aldevron, which serves biotechnology and pharmaceutical
customers across research, clinical and commercial applications,
will operate as a standalone company and brand within Danaher's
life-sciences segment.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
June 17, 2021 09:39 ET (13:39 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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