Danaher forking out $9.6 billion to acquire Aldevron

US science and technology conglomerate Danaher Corporation (NYSE: DHR) has entered into a definitive agreement to acquire privately-held biotech firm Aldevron, a fast-growing producer of plasmid DNA, mRNA and recombinant proteins that are used for vaccines, including those for the current coronavirus pandemic.

The cash purchase price is around $9.6 billion, and Danaher, whose shares closed up 5% at $257.08 yesterday, expects to finance the acquisition using cash on hand and/or proceeds from the issuance of commercial paper.

Founded in 1998 by Michael Chambers and John Ballantyne, Aldevron is headquartered in Fargo, North Dakota and employs approximately 600 people. Aldevron manufactures high-quality plasmid DNA, mRNA, and proteins, serving biotechnology and pharmaceutical customers across research, clinical and commercial applications.