NEW YORK (GenomeWeb News) — Beckman Coulter today said it has extended its offer to buy Biosite to May 2, which the day that a counteroffer by Inverness Medical Innovations runs out.
Late last week, Biosite told Beckman Coulter that it “currently intends” to accept a rival offer from Inverness, which proposes to buy the company for $90 a share. Beckman’s original offer, made in March, was for $85 a share.
Beckman now has until May 2 to make Biosite a better offer. If Biosite chooses Inverness, it would have to pay Beckman an agreed-upon $50 million termination fee, which Inverness has said it would cover.