Private equity firms including Blackstone Group LP and Carlyle Group have teamed up and are exploring a joint offer for Life Technologies Corp , the biomedical laboratory equipment maker with a $10 billion market value, a person 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 person said.The group thinks that Life Tech' stock prices have run up to a level at which it would be tough to make the economics of a deal attractive, the person added, asking not to be named because the matter is not public.Representatives for Life Tech, Carlyle and Temasek did not immediately respond to requests for comment. Blackstone and TPG declined to comment.Life Tech has held discussions with industry rivals such as Thermo Fisher Scientific Inc as well as buyout firms about a potential sale, but most of the bidders felt that a run-up in the company's shares made a deal less attractive, people familiar with the matter have told Reuters.
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, 2218290 shares of LIFE exchange hands on a given day and today's volume is recorded at 2605097.
Thermo Fisher Scientific Inc. (Thermo Fisher) is engaged in serving science. Shares of TMO remained unchanged at $75.33. In the past year, the shares have traded as low as $48.14 and as high as $75.79. On average, 1986590 shares of TMO exchange hands on a given day and today's volume is recorded at 0.
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