Agilent (A), EQT to Acquire Cancer Diagnostic Co. Dako in $2.2B Deal
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Price: $148.24 -0.84%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.8%
EPS Growth %: +8.8%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.8%
EPS Growth %: +8.8%
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Agilent Technologies Inc. (NYSE: A) and EQT, announced the execution of a definitive agreement for Agilent to acquire Dako, the Denmark-based cancer diagnostic company. The $2.2 billion acquisition (on a debt-free basis) is the largest in Agilent’s history.
Dako provides antibodies, reagents, scientific instruments and software primarily to customers in pathology laboratories to raise the standards for fast and accurate diagnostic answers for cancer patients. Dako also collaborates with a number of major pharmaceutical companies to develop new potential pharmacodiagnostics, also called companion diagnostics, which may be used to identify patients most likely to benefit from a specific targeted therapy. Dako’s products are sold in more than 100 countries, and in 2010 its annual revenue was approximately $340 million (USD). The company employs more than 1,000 people, primarily in Denmark, in Carpinteria, Calif., and other parts of the world.
The acquisition is expected to close within the next 60 days, subject to the satisfaction of customary closing conditions.
Dako provides antibodies, reagents, scientific instruments and software primarily to customers in pathology laboratories to raise the standards for fast and accurate diagnostic answers for cancer patients. Dako also collaborates with a number of major pharmaceutical companies to develop new potential pharmacodiagnostics, also called companion diagnostics, which may be used to identify patients most likely to benefit from a specific targeted therapy. Dako’s products are sold in more than 100 countries, and in 2010 its annual revenue was approximately $340 million (USD). The company employs more than 1,000 people, primarily in Denmark, in Carpinteria, Calif., and other parts of the world.
The acquisition is expected to close within the next 60 days, subject to the satisfaction of customary closing conditions.
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