Carlsbad-based Life Technologies announced this morning that it has acquired a majority stake in Geneart AG, a synthetic biology company. The firm said it now owns approximately 74 percent of Geneart, after purchasing approximately 554,000 shares of Geneart common stock at EUR13.75 per share in a tender offer, or approximately $9.4M US. Life had purchase approximately 2.6 million shares of Geneart at EUR11.59 per share in early April, paying approximately $37M US for 59 percent of the firm. Life Technologies said Geneart had sales of EUR17 million in 2009, or approximately 21M US.
Top NewsFriday, May 28, 2010
Life Technologies Buys Majority Stake In Geneart