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

Abcam plc (NASDAQ:ABCM) has expressed surprise at Dr. Jonathan Milner's opposition to the proposed acquisition of all outstanding shares of Abcam by Danaher Corporation (DHR) for $24.00 per share in cash. The company believes this may be an attempt to create confusion among shareholders before the vote.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 6:07 am

Abcam founder and major investor, Jonathan Milner, has announced his opposition to the proposed acquisition of Abcam by Danaher Corporation. He has requested a general meeting to replace the company's board, CEO, CFO, and Chairman.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 12:13 pm

Abcam has announced that due to the pending acquisition, its financial year 2023 and 2024 has been suspended.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 8:20 pm

Abcam (NASDAQ:ABCM) reported a decrease in sales this quarter, with $221.47 million compared to $240.75 million the same period last year, marking an 8.01 percent decrease.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 8:19 pm

Several companies have had their ratings upgraded, downgraded, or initiated by various financial institutions. Upgrades include PDD Holdings, UDR Inc, Sunrun Inc, and Hercules Capital Inc. Downgrades include Box Inc, Ambarella Inc, Highwoods Properties Inc, Peloton Interactive Inc, BanColombia SA, Centene Corp, Texas Instruments Inc, Abcam PLC, and Thorne HealthTech Inc. New coverage has been initiated for BCB Bancorp Inc, Macatawa Bank Corp, Cognex Corp, AZZ Inc, Gulfport Energy Corp, Align Technology Inc, Stem Inc, Fluence Energy Inc, and Atour Lifestyle Holdings Ltd.

Portfolio Pulse from Benzinga Insights

August 30, 2023 | 3:00 pm

SVB Leerink analyst Puneet Souda has downgraded Abcam (NASDAQ:ABCM) from Outperform to Market Perform and set a price target of $24.

Portfolio Pulse from richadhand@benzinga.com

August 30, 2023 | 8:33 am

Danaher Corporation (DHR) has agreed to acquire Abcam plc (ABCM) for $24.00 per share in cash, a total enterprise value of ~$5.7 billion. The deal is expected to close in mid-2024 and will be funded using cash on hand and proceeds from the issuance of commercial paper. Analysts from William Blair believe the acquisition will promote growth and bolster margins for Danaher, and allow it to penetrate the proteomics reagents market, where Thermo Fisher Scientific Inc (TMO) and Merck Millipore have strong positions.

Portfolio Pulse from Vandana Singh

August 29, 2023 | 7:09 pm

Catalent Inc has finalized a deal with Elliott Investment Management, appointing four new independent directors to its board and establishing a Strategic and Operational Review Committee. The company reported Q4 adjusted EPS of $0.09, missing the consensus of $0.10, with sales of $1.07 billion, down 17% Y/Y. Catalent forecasts FY24 sales of $4.30 billion-$4.50 billion. The company has faced acquisition interest from multiple entities and has been navigating through multiple challenges recently.

Portfolio Pulse from Vandana Singh

August 29, 2023 | 12:17 pm

Danaher (NYSE:DHR) has announced the acquisition of Abcam (NASDAQ:ABCM) for $5.70 billion in cash, expected to be completed by H1 2024. Danaher is a manufacturing company focusing on scientific instruments and consumables, while Abcam is a biotechnology company that develops and provides antibodies to life science research and clinical communities.

Portfolio Pulse from Benzinga Insights

August 28, 2023 | 3:10 pm

Danaher Corporation (DHR) has agreed to acquire Abcam plc (ABCM) for $24.00 per share in cash, a total enterprise value of ~$5.7 billion. Abcam will operate as a standalone company within Danaher's Life Sciences segment. The transaction is expected to close in mid-2024. Following the announcement, ABCM shares are trading lower by 4.37% at $22.34 premarket on Monday.

Portfolio Pulse from Akanksha Bakshi

August 28, 2023 | 1:18 pm

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