Monday, February 13, 2012

Private equity firm to buy SeraCare (Nasdaq: SRLS) for about $78M

Private equity firm to buy SeraCare (Nasdaq: SRLS) for about $78MPalm Beach, FL 2/13/12 (StreetBeat) -- SeraCare Life Sciences Inc. (Nasdaq: SRLS) has agreed to a buyout offer worth about $77.7 million from the private equity firm Linden Capital Partners.

SeraCare, based in Milford, Mass., performs contract research services, and its portfolio includes diagnostic controls and molecular biomarkers. Linden Capital is a Chicago-based private equity firm that focuses on healthcare and life sciences.

Under terms of the deal announced Monday, Linden Capital will pay $4 for each SeraCare share, a 12 percent premium compared to the stock's closing price of $3.58 on Friday.

The company had about 19.4 million shares as of its latest earnings report.

SeraCare said the price represents a 25 percent premium to the 30-day volume-weighted average stock price.

Its board has unanimously recommended the deal to its shareholders who will get a chance to vote on it.

The companies expect the deal to close in the second quarter.

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