WSJ Snippet on DADE acquisition. Just a boring diagnostics company, but apparently there's money to be made in these sometimes - Doc
The intended acquisition of Dade for $7 billion, or $77 a share, is expected to close in the second quarter of fiscal year 2008.
Dade shares have performed well in 2007, climbing 40%, for a more than sixfold gain over the past five years. The company said today it earned $50.3 million, or 61 cents a share, in the second quarter, up from $37.6 million, or 43 cents, in the year-ago period.
Siemens has been building up its diagnostics business since 2005, as the company narrows its focus to three areas: health care, energy and factory automation. Last year, it acquired the medical-diagnostics unit of Germany's Bayer AG for €4.2 billion ($5.79 billion) and U.S.-based Diagnostic Products Corp. for $1.86 billion. In 2005, Siemens purchased CTI Molecular Imaging Inc., another U.S. diagnostics company, for $1 billion. |
