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Bio-Rad Makes $82M Bid for Reagent Shop BioSource

NEW YORK, April 6 (GenomeWeb News) - Bio-Rad today made an $82-million offer to acquire BioSource, the company said in a statement.

 

Hercules, Calif.-based Bio-Rad issued a statement after market close today outlining its offer to acquire all of the outstanding shares of reagent shop BioSource at $8.50 a share. Bio-Rad currently owns approximately 5 percent of the outstanding shares of Camarillo, Calif.-based BioSource, whose shares are traded on the Nasdaq exchange.

Bio-Rad said in a statement that it had attempted to persuade BioSource directors to enter into merger negotiations for the past two years, most recently on April 4, but had been rebuffed.