Company proposed a 28% premium over share price.
Agilent Technologies is acquiring Stratagene for $10.94 per share, a 28% premium over the companies closing price on April 5, 2007.
“We see Stratagene’s technology, products and expertise as being highly complementary to Agilent’s life sciences portfolio, enabling us to offer our customers more complete workflow solutions,” comments Nick Roelofs, vp and general manager of Agilent’s Life Sciences Solutions Unit. “Stratagene has a strong R&D team as well as excellent presence in the important academic and government markets.”
Stratagene will operate as a division within Agilent’s Life Sciences Solutions Unit. Both companies expect to see a broadened customer base.
The companies expect that the merger will close in approximately 90 days. Approximately 59% of Stratagene stockholders have already agreed to vote in favor of the merger.