A joint offer is being mulled for the purchase of Life Technologies Corp.
The company is a biomedical lab equipment manufacturer with an estimated value of US$10 billion. The partnership drafting the offer are private equity firms Blackstone Group LP and the Carlyle Group.
The two giant equity firms are being joined by TPG Capital and Temasek Holdings of Singapore to create a powerhouse consortium to bid for the company. While it is still at the preliminaries, there are still second thoughts as to the formal submission of a bid.
The main reason why the consortium is being second guessed as to the bid was the stock price of Life Tech that it has made the deal unattractive. The size of the leveraged buyout with the company would necessitate a team up or consortium of investors to reach the preferred bid price.
When asked for comments, all the parties declined to make any on the deal.
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