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Print Edition StoriesFriday, June 13, 2008
Applera Corp. to sell Applied Biosystems unit for $6.7B
By Mass High Tech Staff
Invitrogen Corp. said on Thursday it has agreed to pay $6.7 billion in cash and stock for Norwalk, Conn.-based Applera Corp.’s Applied Biosystems Group.
Carlsbad, Calif.-based Invitrogen (Nasdaq: IVGN) said it will pay $38 a share for Foster City, Calif.-based Applied Biosystems (NYSE: ABI), a 17 percent premium over the stock’s closing price on Wednesday.
The new company will be named Applied Biosystems. Applera Corp.’s full name is Celera Group, Applera Corp. (NYSE: CRA), and was formerly Celera Genomics Group.
Invitrogen CEO Greg Lucier will lead it with Applied Biosystems COO Mark Stevenson serving as COO and Invitrogen CFO David Hoffmeister retaining that position.
The new company’s board will have nine from Invitrogen’s current board and three from Applera’s, according to Invitrogen officials.
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