Tuesday, 26 July 2016
Last updated 29 min ago
Apr 12 2013 | 10:13am ET
Three private equity firms have bid $11.1 billion for genetic testing equipment maker Life Technologies, expected to be among the biggest buyouts of the year.
The Blackstone Group, the Carlyle Group and Kohlberg Kravis Roberts, along with Singapore state investment company Temasek Holdings, offered $65 per share for the company. But that opening bid is thought to fall short of the between $65 and $75 per share offered by Thermo Fisher Scientific.
Life Technologies is reviewing the bids and is expected to open negotiations with both bidding groups. A deal could be completed within a few days, The Wall Street Journal reports.