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Bio-Rad to Acquire MJ GeneWorks and Subsidiaries for $47M, Liabilities

Jun 02, 2004

NEW YORK, June 2 (GenomeWeb News) - Bio-Rad Laboratories plans to acquire MJGeneWorks and its subsidiaries for $47 million in cash, the company said today. MJGeneWorks is the parent company of MJ Research.

 

Bio-Rad will also take over certain liabilities of the companies. In April, a jury decided that MJ Research must pay $19.8 million in damages to Applied Biosystems and Roche Molecular Systems for infringing a number of PCR-related patents. MJ Research, based in Waltham, Mass., produces thermal cycling instruments and reagents to amplify DNA.

 

The acquisition still requires a definitive purchase agreement and government approvals.

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