Shares of Serologicals soared this morning after Millipore announced an agreement to buy the company for $1.4 billion. Millipore expects it can significantly boost international sales of Serologicals' products. Serologicals commercializes technologies for manufacturing biologics and Millipore is a biosciences products company. The combined operation will have 5,800 employees.
Martin Madaus, CEO of Millipore said, "Our acquisition of Serologicals is transformational. This move will significantly increase our life sciences footprint and will advance many of our strategic objectives. Serologicals and Millipore are two of the fastest growing companies in our sector, and our combination will create a company with very attractive growth and profitability. Serologicals participates in a number of high-growth market segments and brings a portfolio of innovative, higher margin products that can be sold through our combined, global sales organization."
- read the release for more information