NEW YORK (GenomeWeb News) - PerkinElmer said today it has completed its successful tender offer to acquire ViaCell by buying more than 90 percent of the company's outstanding common stock.
PerkinElmer said it purchased approximately 37.9 million ViaCell shares through the tender offer, which expired Thursday night. PerkinElmer paid $7.25 a share for a total of more than $274 million.
The company said it plans to buy ViaCell’s remaining shares through a short-form merger under Delaware law for the same price, at which time ViaCell will become a wholly owned PerkinElmer subsidiary.
When the deal is closed, PerkinElmer plans to sell ViaCell's therapeutics business.