Life Tech Buys Majority of Geneart
Luke Timmerman5/28/10
Life Technologies, the Carlsbad, CA-based company that makes instruments and lab supplies for biologists, said today it has acquired a 74 percent ownership stake in Germany-based Geneart through a tender offer to the smaller company’s shareholders. Geneart is one of five small companies around the world that specialize in synthesizing custom-ordered genes for use in biomedical research. Life Technologies (NASDAQ: LIFE) bought 59 percent of the company on April 9 for 11.59 euros a share, and other shareholders tendered shares at 13.75 euros. Life Technologies said it plans to enhance Geneart’s distribution capability and commercial network in the U.S.
