US: Avantor paying $6.4bn for VWR

Avantor plans to acquire VWR for approximately $6.4 billion cash, in a deal the companies said today would create a combined global provider of consumables-focused solutions and services to life sciences and advanced technologies businesses, as well as education, government, and research institutions.

The deal is designed to enable the combined company to serve customers from research through production by joining Avantor’s strengths in cGMP manufacturing processes and significant exposure to emerging markets with VWR’s focus on providing product and service solutions to laboratory and production customers in the Americas and Europe.

“Given the changing dynamics in the highly fragmented and diverse life sciences sector, we believe that combining Avantor’s advanced materials and solutions with VWR’s unparalleled distribution capabilities and breadth of offerings represents a compelling value proposition,” said VWR president and CEO Manuel Brocke-Benz.

The boards of both companies have approved the deal, which is expected to close in the third quarter, subject to VWR shareholder approval and other conditions that include expiration of a “go-shop” period, the expiration or termination of the applicable waiting period under Hart–Scott–Rodino Antitrust Improvements Act, and European Commission approval.

Full Content: Gen News

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