Eyeing Sera Space With JRH Buy, Sigma Needs $200M More; Where s the Value? | GenomeWeb

Sigma-Aldrich plans to spend $370 million to acquire JRH Biosciences of Lenaxa, Kan., a 400-employee sera and cell-culture product manufacturing firm with $150 million in sales in 2004, the company said Tuesday.

With $134 million in cash on hand at the end of the quarter ending Sept. 30, Sigma will need some $200 million in additional cash to pay for the acquisition. The company will take out short-term and three-year term debt to finance the acquisition, Sigma said in a statement.

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