Streetbeat News

ABCM

Abcam

http://www.abcam.com/

CEO

Alan Hirzel

Employees

1,100

Industry

Research and Development in Biotechnology

Abcam is a producer, distributor and seller of protein research tools.

Open

23.99

Mkt cap

5.5B

Volume

7.4M

High

24.00

P/E Ratio

2399.00

52-wk high

25.32

Low

23.98

Div yield

N/A

52-wk low

12.48

The High Court of Justice of England and Wales has approved the acquisition of Abcam plc by Danaher Corporation for $24.00 per share in cash. The transaction is to be completed through a Court-sanctioned scheme of arrangement, with the expected effective date being December 6, 2023. Abcam's last trading day on Nasdaq will be December 5, 2023, before the suspension of trading the following morning.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 9:02 pm

Abcam has received all necessary clearances for its acquisition by Danaher at a price of $24.00 per share in cash. This marks a significant step towards the completion of the acquisition process.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 12:08 pm

Shareholders of Abcam have approved the proposed acquisition of the company by Danaher. This move is expected to strengthen Danaher's position in the life sciences industry.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 9:01 pm

RBC Capital analyst Alistair Campbell has maintained a 'Sector Perform' rating on Abcam (NASDAQ:ABCM) and lowered the price target from $25 to $24.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 1:57 pm

Jonathan Milner, a significant shareholder in Abcam, has urged shareholders to reject the proposed sale of the company to Danaher. Milner believes that the offer of $24 per share significantly undervalues Abcam and that the timing of the sale is inopportune. He also referenced the recent acquisition of Olink by Thermo Fisher, which commanded a strategic premium of 74%, as an example of a high-quality asset securing a substantial strategic premium in a change of control transaction.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2023 | 6:57 am

Jonathan Milner, founder and one of the largest shareholders of Abcam plc (ABCM), has released a presentation urging shareholders to reject Danaher Corporation's (DHR) $24 per share bid. Milner believes the bid undervalues Abcam, especially considering the company's anticipated growth and increased EBITDA margins for FY24. He also unveiled his strategy for Abcam, 'Abcam 3.0', which includes overhauling the company's board and focusing on four strategic pillars for growth.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 2:34 pm

RBC Capital analyst Alistair Campbell has reiterated a 'Sector Perform' rating on Abcam (NASDAQ:ABCM) and maintained a $25 price target.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 1:34 pm

Abcam plc (NASDAQ:ABCM) has filed and mailed a scheme circular seeking approval for its acquisition by Danaher Corporation (NYSE:DHR) for $24.00 per share. The transaction represents a 39% premium to Abcam's undisturbed closing share price on May 16, 2023. The acquisition is the result of a competitive sale process, with Danaher's offer being the highest received. Post-acquisition, Abcam will continue as a standalone operating company and brand within Danaher's Life Sciences segment.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 12:12 pm

Jonathan Milner, the founder and one of the largest investors in Abcam, has urged shareholders to reject the acquisition offer from Danaher in an open letter.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 7:29 am

KeyBanc Capital Markets analyst Paul Knight has reiterated the Overweight rating on Danaher Corporation (DHR), but lowered the price target to $300 from $325. The life science tools sector, including DHR, has been underperforming in FY23 due to reduced demand and funding for early-stage biotech customers. However, Knight notes that Danaher has a high-growth and high-margin profile following the Veralto spin. The analyst estimates Danaher will post ~$28.7 billion of revenue in FY23, representing a 9.3% organic decline, or 0.6% growth excluding COVID-19 headwinds.

Portfolio Pulse from Nabaparna Bhattacharya

September 27, 2023 | 7:37 pm

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