The two companies have entered an agreement in which Danaher Corporation will acquire Abcam for $24 per share in cash.
The transaction has been unanimously approved and recommended by the Abcam Board of Directors and unanimously approved by the Danaher Board of Directors.
Founded in 1998 and headquartered in Cambridge, UK, Abcam provides antibodies, reagents, biomarkers and assays for drug discovery, life sciences research, and diagnostics. Abcam is expected to operate as a standalone operating company and brand within Danaher’s Life Sciences segment.
The transaction concludes the review of strategic alternatives initiated by the Abcam Board of Directors in June 2023, following strategic inquiries from multiple parties. The comprehensive process engaged with over 30 potential counterparties, including more than 20 potential strategic acquirers before entering into a definitive agreement with Danaher.
Peter Allen, Chairman of Abcam, said: “Following a rigorous process, I’m confident this combination with Danaher maximises value for shareholders while delivering an excellent outcome for our employees and customers.”
Rainer Blair, President and Chief Executive Officer, Danaher, added: “We couldn’t be more excited to have Abcam join Danaher. We look forward to welcoming Abcam’s innovative and talented team to Danaher as we continue to help our customers solve some of the world’s biggest healthcare challenges.”
Edited by Diana Spencer, Senior Digital Content Editor, Drug Discovery World