Healthcare group Thermo Fisher Scientific is reportedly set to win the auction for genetic testing specialist Life Technologies Corp, which has also drawn attention from buyout majors such as KKR and Blackstone.
Thermo Fisher is preparing to offer between $65 and $70 per share for the entire company, said Reuters, citing three sources familiar with the matter.
That is more than other suitors are ready to offer for the company, which is currently valued at over $11bn, they said.
They added that it was too early to tell the outcome of the auction, however, with bids due to be submitted next week.
Thermo Fisher has an edge over private equity suitors as they are not looking to acquire all of the company and it could also achieve more cost savings than buyout firms.
Last month it was reported that KKR could raise a rival private equity consortium to challenge in the bidding for Life Tech.
It was planning to create a group to battle a buyout bid from Blackstone, Carlyle, TPG Capital and Singapore sovereign investor Temasek.
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