In Brief: Perkin-Elmer/PerSeptive Biosystems
This article was originally published in The Gray Sheet
Executive Summary
Perkin-Elmer/PerSeptive Biosystems: Hart-Scott-Rodino antitrust review of Perkin-Elmer's proposed $360 mil. acquisition of PerSeptive is extended as a result of a Department of Justice request for additional information related to the transaction. A definitive agreement for the deal was announced Aug. 25 ("The Gray Sheet" Sept. 1, p. 6). Both firms offer mass spectrometry products that enable lab technicians to analyze and sequence peptide and protein biomolecules; the firms maintain that their respective technologies are used in different phases of the drug discovery process. In addition to regulatory approval, the deal is contingent on a vote by PerSeptive shareholders, a meeting of which is slated for Dec. 4...