Beckman won’t raise Biosite bid
- Share via
Beckman Coulter Inc. said it would not increase its $1.67-billion offer to buy Biosite Inc., ending a takeover battle for the San Diego-based maker of diagnostic tests and sending its shares lower.
Biosite’s board said it considered a $92.50-a-share bid from Inverness Medical Innovations Inc. superior, according to Fullerton-based Beckman Coulter, which had offered $90 a share.
The acquisition would allow Waltham, Mass.-based Inverness, a maker of home pregnancy tests and fertility monitoring kits, to double in size, surpassing $1 billion in annual revenue, and diversify its product offerings through Biosite’s line of tests for heart conditions and other diseases.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
