Bio-Rad Laboratories, Inc. Rises on Bet Family May Seek Sale
Published: Apr 04, 2012
Bio-Rad Laboratories Inc. (BIO), a maker of medical screening and research equipment, rose the most in more than three years on speculation the family-run company may be open to a sale after the death of its founder. Bio-Rad jumped 11 percent to $114.25 in New York, its biggest percentage gain since November 2008. It has a market value of about $3.2 billion. Chairman David Schwartz, who founded Bio-Rad in 1952, died April 1 at age 88, the Hercules, California-based company said in a statement. Schwartz was considered by investors to be opposed to selling the company, Junaid Husain, an analyst at Dougherty & Co. in Minneapolis, said by telephone.