Danaher announced that it has entered into a definitive agreement to acquire Abcam, a global supplier of protein consumables, pursuant to which Danaher will acquire all of the outstanding shares of Abcam for $24 per share in cash, or a total enterprise value of approximately $5.7 billion including assumed indebtedness and net of acquired cash.
Founded in 1998 and headquartered in Cambridge, UK, Abcam offers the scientific community highly validated antibodies, reagents, biomarkers and assays to address targets in biological pathways that are critical for advancing drug discovery, life sciences research, and diagnostics. Its technologies are used by approximately 750,000 researchers.
Abcam is expected to operate as a standalone operating company and brand within Danaher's Life Sciences segment, furthering Danaher's strategy to help map complex diseases and accelerate the drug discovery process.
The transaction is anticipated to close mid-2024 and is subject to customary conditions, including receipt of applicable regulatory approvals and Abcam shareholder approval.
Danaher expects to fund the acquisition using cash on hand and proceeds from the issuance of commercial paper.
