GE Healthcare To Acquire Whatman
By HospiMedica staff writers
Posted on 12 Feb 2008
GE Healthcare (Chalfont St. Giles, UK), a unit of General Electric Co., and Whatman plc (Maidstone, UK) have reached agreement on the terms of a recommended acquisition of Whatman by GE Healthcare. Posted on 12 Feb 2008
Under the terms of the transaction, each Whatman shareholder will receive GBP 2.70 in cash for each Whatman share, valuing Whatman at approximately GBP 363 million. The transaction is subject to shareholder as well as customary regulatory approvals.
Whatman is a global supplier of filtration products and technologies, with a well-recognized brand and strong sector expertise. Whatman has a wide product range of filters and membranes for laboratory, research, life sciences, and medical technology applications. GE Healthcare's Life Sciences business is a leading provider of technologies for cellular and protein science research, and tools used in the manufacture of biopharmaceuticals such as vaccines, cell therapies, and antibodies. The strong strategic fit between the two businesses will offer substantial customer benefits and create significant synergies through complementary product and service offerings.
It is intended that the transaction will be implemented by way of a scheme of arrangement under UK law. The transaction has been recommended unanimously by the directors of Whatman, who have agreed to vote their shares in favor of the transaction. It is expected that the transaction will be completed in the second quarter of 2008.
GE Healthcare's broad range of products and services enable healthcare providers to better diagnose and treat cancer, heart disease, neurologic diseases, and other conditions earlier.
A global leader in filtration technology, Whatman provides innovative life-science products to the scientific community. Whatman has developed total sample preparation solutions through its robust line of filtration devices and membranes. The company's breakthrough protein array technology and FTA technology to capture archive and purify DNA at room temperature, enables it to provide novel solutions for the analytic, health care, and bioscience markets.
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