GE Healthcare, based in the UK, has agreed terms to buy Whatman Plc.
Under the terms of the transaction, each Whatman shareholder will receive 270 pence in cash for each Whatman share, valuing Whatman at approximately £363 million (approximately $713 million.)
The transaction is subject to approval by Whatman’s shareholders as well as customary regulatory approvals.
Whatman is a global supplier of filtration products and technologies, with a well-recognised brand, and a strong sector expertise.
Whatman’s product offering includes filters and membranes for laboratory, research, life sciences and medical technology applications.
GE Healthcare’s Life Sciences business provides technologies for cellular and protein science research, and tools used in the manufacture of biopharmaceuticals such as vaccines, cell therapies and antibodies.
Joe Hogan, President and CEO, GE Healthcare, said: “Whatman’s product offerings are highly complementary with our Life Sciences business; we believe that combining the skills and knowledge of the two businesses will create significant added value for our customers.”
Kieran Murphy, CEO of Whatman, said: “Whatman will benefit significantly from the business process expertise within GE Healthcare and in addition, Whatman’s product opportunities within the pharmaceutical, diagnostic and forensics markets will have a greater chance of success within the larger GE Healthcare group.”