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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (46805)	4/11/2012 10:11:39 AM
From: E_K_S	Read Replies (1) \| Respond to of 78595

Corning Incorporated Common Sto (GLW) -NYSE Corning Buying Becton Dickinson Bioscience Assets Corning To Acquire Majority Of BD Discovery Labware Unit For $730 Mln nasdaq.com From the article:"...The deal is expected to boost Corning's annual revenues by about $235 million, while the company looks to add momentum to achieve its announced sales target of $10 billion by 2014. <clip> The acquisition of most of the Billerica, Massachusetts-based Discovery Labware unit will expand Corning Life Sciences' annual revenues by 40 percent. It will also help the segment to achieve its goal of $1 billion business by 2014 with a broader portfolio of life sciences products in the areas of drug-discovery tools, bioprocess solutions, and laboratory research instruments. Corning said it will use a portion of its domestic cash balances to fund the deal, and that the deal is expected to be slightly accretive in 2013...." -------------------------------------------------------------------- GLW using their cash reserves to fund the transaction. EKS