Addleshaw Goddard has advised Immunodiagnostic Systems on its £110m recommended takeover by PerkinsElmer, which completed today. The all-cash offer, which is for all issued and to-be-issued shares, values IDS at £88m.
The AG team was led by Giles Distin and included Jeremy Cruse, Richard Angel and Karolina Staniulyte (Corporate), and Jonathan Fletcher Rogers and Leah Fisher (Employee Incentives).
Based in Boldon, Tyne and Wear, IDS is a leading in-vitro diagnostic solution provider to the clinical laboratory market with around 300 employees globally. The acquisition will enable US-based global life sciences company PerkinElmer to further develop its growing immunodiagnostics business.
Giles Distin said: "We are delighted to have been able to help on this transaction, which brings together IDS's highly-sophisticated and specialised portfolio with PerkinElmer's global reach and resources.
"This is a great move for both companies and we are very pleased to have been able to contribute to enabling taking this step."