US private equity majors The Blackstone Group LP (NYSE:BX) and KKR & Co LP (NYSE:KKR) are among the parties engaged in takeover talks with US life sciences company Life Technologies Corp (NASDAQ:LIFE), Bloomberg reported citing sources with knowledge of the matter.
Two more private equity groups and some healthcare companies, all of them unidentified, are also said to be considering bids for Life Technologies. According to the sources, the interested parties have been asked to table their offers late in January.
The target’s current market value stands at approximately USD10.5bn (EUR7.9bn) after a spike in Life Technologies’ share price following takeover rumours. One of the sources said that the sale could fetch around USD13bn, with up to USD5bn of that supplied in equity by a buyout firm.
Life Technologies announced on Friday that it was conducting the annual strategic review of its business and had brought in Deutsche Bank AG (ETR:DBK) and Moelis & Co LP as advisers. However, the company said that its board had yet to decide on a particular course of action.
Bloomberg could not get Deutsche Bank and Moelis to comment.