Danaher Corporation (DHR - Free Report) has entered into a definitive agreement to acquire Abcam plc (ABCM) for approximately $5.7 billion (including assumed indebtedness and net of acquired cash). The deal value is equivalent to $24 per share. Following this news, shares of DHR gained 2.3% at the close of business on Aug 28.
Headquartered in Cambridge, UK, Abcam is a global supplier of protein consumables. The company offers highly validated antibodies, reagents, biomarkers and assays that are required for accelerating drug discovery, life sciences research, and diagnostics.
Following the acquisition, Abcam is expected to operate as a standalone company within Danaher's Life Sciences segment.
In the second quarter of 2023, DHR’s Life Sciences segment generated revenues of $1,796 million, up 5.5% year over year. Core sales grew 5.5% year over year. Acquisitions boosted sales by 1%, while unfavorable foreign-currency translations lowered sales by 1%.
Abcam's long track record of innovation, outstanding product quality and breadth of antibody portfolio are expected to help Danaher solve some of the world's greatest healthcare challenges.
Subject to customary closing conditions, the acquisition is expected to close in mid-2024. Danaher expects to use cash on hand and proceeds from the issuance of commercial paper to fund the transaction.
While Danaher presently carries a Zacks Rank #4 (Sell), Abcam currently holds a Zacks Rank #2 (Buy).
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Graham Corporation (GHM - Free Report) currently flaunts a Zacks Rank #1. The company pulled off a trailing four-quarter earnings surprise of 243.1%, on average.
Graham has an estimated earnings growth rate of 400% for the current fiscal year. The stock has rallied 65.8% so far this year.
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With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
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Danaher Corporation (DHR - Free Report) has entered into a definitive agreement to acquire Abcam plc (ABCM) for approximately $5.7 billion (including assumed indebtedness and net of acquired cash). The deal value is equivalent to $24 per share. Following this news, shares of DHR gained 2.3% at the close of business on Aug 28.
Headquartered in Cambridge, UK, Abcam is a global supplier of protein consumables. The company offers highly validated antibodies, reagents, biomarkers and assays that are required for accelerating drug discovery, life sciences research, and diagnostics.
Following the acquisition, Abcam is expected to operate as a standalone company within Danaher's Life Sciences segment.
In the second quarter of 2023, DHR’s Life Sciences segment generated revenues of $1,796 million, up 5.5% year over year. Core sales grew 5.5% year over year. Acquisitions boosted sales by 1%, while unfavorable foreign-currency translations lowered sales by 1%.
Abcam's long track record of innovation, outstanding product quality and breadth of antibody portfolio are expected to help Danaher solve some of the world's greatest healthcare challenges.
Subject to customary closing conditions, the acquisition is expected to close in mid-2024. Danaher expects to use cash on hand and proceeds from the issuance of commercial paper to fund the transaction.
While Danaher presently carries a Zacks Rank #4 (Sell), Abcam currently holds a Zacks Rank #2 (Buy).
Key Picks
Some better-ranked industrial stocks are as follows:
Flowserve Corporation (FLS - Free Report) presently sports a Zacks Rank #1 (Strong Buy). The company pulled off a trailing four-quarter earnings surprise of 6.2%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
Flowserve has an estimated earnings growth rate of 79.1% for the current year. The stock has jumped 26.6% so far this year.
Graham Corporation (GHM - Free Report) currently flaunts a Zacks Rank #1. The company pulled off a trailing four-quarter earnings surprise of 243.1%, on average.
Graham has an estimated earnings growth rate of 400% for the current fiscal year. The stock has rallied 65.8% so far this year.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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