Buyout group bids $65 per share for Life Tech: sources
NEW YORK (Reuters) - A private equity consortium bid $65 per share, or $11.1 billion, for Life Technologies Corp LIFE.O, but fell short of a rival offer from Thermo Fisher Scientific Inc (TMO.N), two people familiar with the matter said on Wednesday.
Thermo Fisher's bid for the genetic testing equipment maker came in at the high-end of the $65-$70 per share range that it had been considering, two other people familiar with the matter said. The exact amount Thermo bid could not be obtained.
Blackstone Group LP (BX.N), Carlyle Group LP (CG.O) and KKR & Co LP (KKR.N), which are part of the buyout consortium, declined to comment. Singapore's state investor, Temasek Holdings, which is also part of the consortium, could not be reached for comment.
Life Tech declined to comment. Thermo Fisher did not immediately respond to requests for comment.
SYDNEY - Asian markets were finding their feet on Tuesday after a rocky ride the previous session, though uncertainty about the true state of China's economy kept nerves frayed and commodity prices restrained.
- U.S. small businesses borrowed more money in January than they did a year earlier, signaling continued growth in the economy despite a spate of cold weather that has been blamed for weakness in many other indicators of activity.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.