Private equity firms including Blackstone Group LP and Carlyle Group are exploring a joint offer for Life Technologies Corp, a biomedical laboratory equipment maker with a $10 billion market value, two people familiar with the matter said on Tuesday.The takeover consortium - which also comprises private equity firm TPG Capital and Singapore's state investor Temasek Holdings - is at a preliminary stage of discussions, and it remains unclear if the group will proceed with a bid, the two sources said.The group thinks Life Tech's stock price has reached a level where it would be tough to make the economics of a deal attractive, the sources added, asking not to be named because the matter is not public.The news came a month after the company, which is in the middle of a strategic review, said that its board had made no decisions about a sale and that it was open to all options.
The Blackstone Group L.P. (Blackstone) is a United States-based company that is a manager of private capital and provider of financial advisory services. Shares of BX traded higher by 1.66% or $0.31/share to $19.01. In the past year, the shares have traded as low as $11.13 and as high as $19.69. On average, 4735010 shares of BX exchange hands on a given day and today's volume is recorded at 8209368.
Life Technologies Corporation (Life Technologies) is a global life sciences company. Shares of LIFE traded higher by 3.28% or $1.96/share to $61.75. In the past year, the shares have traded as low as $39.73 and as high as $65.84. On average, 2240610 shares of LIFE exchange hands on a given day and today's volume is recorded at 2605097.
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