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Pacific Biosciences of California, Inc. Message Board

  • codyoot codyoot May 23, 2013 10:07 AM Flag

    Roche, Sigma teamed up for failed Life Technologies bid

    (Reuters) Life Tech, the genetic testing equipment maker that announced a $13.6 billion sale to Thermo Fisher Scientific Inc (TMO.N) in April, also received a rival bid from "strategic party A," according to Life Tech's filings with regulators on Tuesday that detailed how the merger came together.

    The sources confirmed party A was Sigma-Aldrich, a maker of chemicals for research laboratories. They asked not to be named because the matter is not public.

    While the rival bid was submitted by Sigma-Aldrich only, the company had planned to sell Life Tech's gene sequencing business to Roche, which was interested in buying that business and not the entire company, the people said.

    Roche was referred to as "strategic party B" in the merger document Life Tech filed with the U.S. Securities and Exchange Commission on Tuesday, the sources added.

    The filings show Roche has retained its interest in expanding into next-generation genetic sequencing more than a year after its $6.8 billion hostile offer for Illumina Inc (ILMN.O) failed over price.

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