GE Healthcare Bids for Biacore

GE Healthcare announced it had made a $3.22 billion Swedish crown ($436.3 million) cash offer for Swedish medical instruments maker Biacore.
    Healthcare firm Pfizer, the largest shareholder in Biacore, with approximately 41% of capital and voting rights, said it had committed to accept the offer. Biacore makes equipment for the scanning and research of protein.
    The offer of 330 Swedish crowns ($44.72) per share represented a premium of 35% based on the volume-weighted average share price over the past month, GE Healthcare said.
    The US firm said Biacore’s products were “highly complementary” to its own offering, while Biacore would be able to capitalize on GE’s global sales network and customer base.
    Biacore’s board of directors has unanimously recommended the offer. In total, shareholders holding 41% in Biacore had accepted the offer, GE said.
    “As a result of today’s transaction, Biacore will be able to benefit from the additional technical and commercial resources of GE Healthcare to accelerate its growth and further expand our opportunities in protein research,'” Biacore Chief Executive Erik Wallden said in a statement.