PerkinElmer, Inc. (Waltham, MA) has signed a definitive agreement to acquire molecular imaging and detection solutions provider Caliper Life Sciences, Inc. (Hopkinton, MA) for $10.50 per share, for a total net purchase price of approximately $600 million in cash.
Combining technology platforms will expand PerkinElmer's solutions and services offering, including molecular, cellular, animal and tissue imaging to enable translational medicine research; an added microfluidics platform for genomics and proteomics applications; sample preparation technologies for next-generation DNA sequencing; and platform technology additions to drive expansion into areas such as detection for environmental contaminants and food pathogens.
The acquisition's total purchase price represents a premium of 42% for Caliper Life Sciences shareholders, relative to the closing price of $7.39 on September 7, 2011, the last trading day prior to the announcement. The acquisition is expected to close in the fourth quarter of 2011, and be dilutive to PerkinElmer’s 2012 GAAP earnings per share by approximately $0.05 and accretive to PerkinElmer’s 2012 First Call consensus adjusted earnings per share by approximately $0.08.
The transaction is subject to customary closing conditions, including approval of Caliper Life Sciences stockholders.
Kevin Hrusovsky, Caliper Life Sciences' CEO, is anticipated to join the PerkinElmer senior leadership team following the close of the transaction.
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