Abcam Attracts Interest from US Life Sciences Giants
Abcam, a biotech supplier, has garnered interest from major US life sciences companies Danaher and Agilent as it explores its potential sale. The company has also approached Germany’s Merck and attracted attention from large buyout firms, say sources of Bloomberg.
First-round bids are expected in the coming weeks. Abcam's American depositary shares surged up to 7.1% on Friday, with a market value of $5.6 billion as of Jul. 3. Its worth has increased 68% in the last year.
Known as the "Amazon of antibodies," Abcam operates an online store offering protein research tools for life scientists. The company announced the exploration of strategic options, including a potential sale, following interest from multiple parties. They are still in the early stages of the process, with no confirmed offers yet.
Abcam also faces internal challenges, as founder Jonathan Milner called an extraordinary general meeting to replace board members. However, Milner paused the proxy fight as the company decided to look for strategic alternatives. Time will tell whether Danaher, Agilent, Merck, or another buyer is successful with the acquisition.
