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Bio-Rad Signs Definitive Agreement to Acquire AbD Serotec
By: Marketwired .
Dec. 16, 2012 01:41 PM
HERCULES, CA -- (Marketwire) -- 12/16/12 -- Bio-Rad Laboratories, Inc. (NYSE: BIO) and (NYSE: BIO.B), a multinational manufacturer and distributor of life science research and clinical diagnostic products, today announced that it has signed a definitive agreement to acquire AbD Serotec, a division of MorphoSys AG for 53 million euros in cash. The transaction is subject to certain closing conditions and is expected to be completed in January.
"We are impressed with the quality of AbD Serotec's products as well as the company's reputation," said Brad Crutchfield, Bio-Rad President, Life Science Group. "With this acquisition, Bio-Rad will have access to a comprehensive catalog of antibodies allowing us to better serve our customers by offering total assay solutions that can be validated on our research platforms for western blotting, multiplex protein expression, ELISA, and cell sorting. In addition, we will be able to exploit a powerful in vitro technology to accelerate future antibody generation."
About AbD Serotec
This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements generally can be identified by the use of forward-looking terminology such as, "believe," "expect," "may," "will," "intend," "estimate," "continue," or similar expressions or the negative of those terms or expressions. Such statements involve risks and uncertainties, which could cause actual results to vary materially from those expressed in or indicated by the forward-looking statements. For further information regarding the Company's risks and uncertainties, please refer to the "Risk Factors" in the Company's public reports filed with the Securities and Exchange Commission, including the Company's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. The Company cautions you not to place undue reliance on forward-looking statements, which reflect an analysis only and speak only as of the date hereof. Bio-Rad Laboratories, Inc., disclaims any obligation to update these forward-looking statements.
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