March 13, 2014 / 6:57 AM / in 4 years

BRIEF-Galapagos says Charles River Labs to acquire co's argenta, biofocus service ops

BRUSSELS, March 13 (Reuters) - Galapagos NV : * Charles River Laboratories to acquire Galapagos’ argenta and biofocus service operations for up to EUR134 million * Says earnout of EUR5 million upon achievement of revenue target after 12 months * Management guidance for 2014 group revenues of EUR125 million and year end cash of EUR170 million * Says proceeds to be used to progress galapagos’ pipeline * Charles River agrees to pay Galapagos immediate cash consideration of EUR129 million * Says transaction is expected to occur early in the second quarter of 2014

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