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Millipore Corp. announced just before midnight Tuesday night that its board of directors is “evaluating strategic alternatives to enhance shareholder value, including by pursuing a process with potential bidders to explore a possible merger or sale of the Company.”
The announcement follows two days of speculation over a potential sale of the Billerica-based Millipore to Thermo Fisher Scientific of Waltham. But Millipore officials warned that merger talks with any company may not result in a transaction, and they would not provide updates on the discussions unless a deal is approved by the board of directors.
Millipore (NYSE:MIL) said the company has engaged Goldman Sachs as its financial advisor and Cravath, Swaine & Moore LLP as its legal advisor to assist the board in its evaluation.
Millipore shares soared on reports of the takever, rising from $70 to more than $100 per share on Monday before settling around $90 at the end of the day Tuesday. Millipore ended 2009 with $1.65 billion in revenue and $177 million in net income.
Last month, Thermo Fisher Scientific (NYSE:TMO) agreed to buy Ahura Scientific, a Wilmington maker of tools for health and public safety uses for $145 million.
Thermo Fisher reported $850.3 million in net income on $10.1 billion in revenue for the year ending Dec. 31. Its stock price slipped from about $49 per share to below $46 on Monday but climbed back to the $49 mark again by end of the day Tuesday.
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