NORWALK, Conn.--(BUSINESS WIRE)--Applera Corporation today announced that its Board of Directors had authorized management to pursue a possible separation of the Celera Group (NYSE:CRA) from Applera, and had authorized the filing today of a registration statement on Form S-1 with the Securities and Exchange Commission. Completion of the proposed separation is subject to a number of conditions, including final Board approval, SEC clearance of the Registration Statement, and receipt of an opinion of tax counsel as to the tax-free nature of the separation. The separation would be accomplished by means of a one-for-one redemption of the Applera Corporation-Celera Group tracking stock for new Celera Corporation shares.
