BioSource International announced it has entered into a definitive merger agreement under which Invitrogen Corporation will purchase BioSource for $130 million, or $12.50 per share. The deal is subject to regulatory review and the approval of BioSource stockholders. The board of directors recommended unanimously that stockholders accept the transaction, which is expected to be completed by the end of 2005. BioSource also reported net sales of $13 million for the second quarter of 2005, an increase of 15 percent over last year. Income from continuing operations was $1.2 million, an 82 percent increase over last year. BioSource produces biologically active reagent systems used in pharmaceutical development and biomedical research.
BioSource Signs Merger Agreement