Friday | 9 January, 2009
Australian Biotechnology News
Reports: GE makes bid for Amersham
Nancy Weil (IDG News Service) 10/10/2003 13:47:39

General Electric has made a bid for the British medical equipment company Amersham and could announce its intentions to buy the company soon, according to reports published yesterday.

The Wall Street Journal first reported the bid, citing sources familiar with the deal, which the newspaper described as "very preliminary". GE and Amersham were engaged in acquisition talks a couple of years ago, the Journal reported. Other news outlets later in the morning picked up the story that GE has made a bid for Amersham, reporting that sources had confirmed the unspecified offer and that it could be officially announced as soon as Friday.

GE has in recent years expanded its molecular imaging business, making Amersham an attractive target. GE does business in a variety of markets, including healthcare, energy, automotive and aviation, and also makes appliances, consumer electronics, adhesive and sealants. It is also in the personal and business financial services markets.

On Wednesday, after rumours began circulating that there might be interest in Amersham, the company issued a statement noting movement in its share price and saying it had "received an approach which may or may not lead to an offer for the company as a whole. No agreement has been reached and a further announcement will be made as appropriate."

GE representatives were not immediately available to comment.

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