BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

Life Technologies (LIFE) Takeover at Lowest Valuation Beats No Deal: Real M&A


3/13/2013 8:05:40 AM

A takeover of Life Technologies Corp. (LIFE) at one of the lowest multiples on record would still be better for shareholders than no deal at all. The $10.7 billion life-sciences company has drawn interest from a buyout group, which includes Blackstone Group LP (BX) and Carlyle Group LP (CG), as well as competitors, people with knowledge of the matter said last week. Life should sell for at least $65 a share, said Robert W. Baird & Co. While that price would imply the industry’s second-lowest deal valuation on record, it still tops analysts’ $53.24 average estimate for Life’s stock as a standalone company, according to data compiled by Bloomberg. Life began exploring a sale last year and has traded for a discount to its peers as investors question the growth prospects for its gene-sequencing business, which makes technology used to provide a blueprint of a person’s DNA. The company also sells products that scientists use in labs for cancer and stem cell research. While private-equity suitors may not be able to justify a price higher than $65 a share, another health-care company such as Thermo Fisher Scientific Inc. (TMO) could pay up to about $70, International Strategy & Investment Group LLC said. “Life’s stock has underperformed, so something needs to be done to unlock the value,” Ross Muken, a New York-based analyst with ISI, said in a telephone interview. “If they don’t think they can fix the sequencing business, then a deal would be viewed as being fairly attractive. Without all of this, the stock would be in the low to mid $50s right now.” Suzanne Hatcher, a spokeswoman for Life, declined to comment on specific bidders or prices.

Read at Bloomberg
Read at Wall Street Journal
Read at Street Insider
Read at RTT News
Read at News Release

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES