Germany-based Siemens Medical Solutions has inked a deal to buy Dade Behring Inc. in a deal worth $7 billion.
According to Siemens, the acquisition will strengthen its clinical footprint. Deerfield, Ill.-headquartered Dade Behring is a clinical laboratory diagnostics company that provides equipment and solutions for routine chemistry testing, immuno-diagnostics, hemostasis testing and microbiology.
Siemens intends to acquire all outstanding shares of Dade for $77 per common share. Dade had sales of approximately $1.7 billion in fiscal 2006.
Siemens Medical Solutions, part of the electrical engineering and electronics company, Siemens AG (Berlin and Munich), expects the closing in the second quarter of fiscal 2008.
