Another U.S. based firm bites the dust.
Germany’s Merck KGaA said Sunday that it will pay $6 billion in cash to buy U.S. biotech equipment maker Millipore Corp. in a move to expand its presence beyond drugs and chemicals and into the life science sector.
The deal ends more than a week of speculation over Millipore’s future.
Shares of the Billerica, Mass., company soared last week after reports said lab instrument maker Thermo Fisher Scientific Inc. had made a $6 billion offer. Millipore, which supplies tests and equipment to the biotechnology industry, then confirmed that it was evaluating strategic alternatives — including a possible sale. The company hired advisers Goldman Sachs and Cravath, Swaine & Moore LLP to help it consider its options.
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Sure, they didn’t go out of business, but pretty soon every food manufacturer, drug manufacturer, clothing manufacturer, and auto manufacturer will be based outside our borders. Then what? That’s right, we bite the dust!
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