TTD Stock – UPDATE 1-Danaher to buy biotech company Aldevron for about $9.6 billion
(Adds details on deal)
June 17 (Reuters) – Medical equipment maker Danaher Corp said on Thursday it would buy privately held biotech company Aldevron in an all-cash deal for about $9.6 billion.
Danaher said it expects to finance the deal using cash on hand and/or proceeds from the issuance of commercial paper.
Aldevron produces plasmid DNA, mRNA and proteins to help biotechnology and pharmaceutical customers across research, clinical and commercial fields. The company also has a deal with COVID-19 vaccine maker Moderna Inc to supply plasmid DNA, which is required in vaccine making.
Aldevron will operate as a standalone company and brand within Danaher’s Life Sciences segment, Danaher said.
(Reporting by Dania Nadeem in Bengaluru; Editing by Sriraj Kalluvila and Amy Caren Daniel)