Life Technologies rises on reported $12 billion KKR buyout deal
April 9, 2013, 10:20 AM
By Russ BrittLife Technologies shares climbed in early trading Tuesday on reports in the New York Post that the biotechnology company and lab equipment maker was the target of a possible $12 billion buyout by a consortium of investors led by famed leveraged buyout firm Kohlberg Kravis Roberts & Co.
 Life Technologies Corp.Life Technologies headquarters
The New York Post reported that KKR along with Blackstone, Carlyle, TPG Capital and Temasek were part of the deal for Life LIFE +1.41% , which rose 2% to $66.55, hitting a new 52-week high.
The price hike is modest under the circumstances, but the reported bidding price for Life is only about $1 billion more than its current market cap. Further, it’s unclear whether reports of the deal were true; the Post said neither KKR nor Blackstone commented on the deal. Life officials could not be immediately reached for comment.
Based in Carlsbad, Calif., Life was formed in 2008 with the merger of Applied Biosystems and the cloning specialist Invitrogen. Life had $3.8 billion in annual sales last year, and employs 10,000 workers. It markets more than 50,000 products and has more than 5,000 patents and exclusive licenses.
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