The proposed transaction, which is subject to customary closing conditions, including the approval of TAP’s shareholders, values the equity of TAP Biosystems at approximately €33 million (£28 million). The transaction has been unanimously approved by the boards of directors of both companies and is expected to close at the end of 2013.
TAP Biosystems plc - formerly The Automation Partnership, a spin-out from The Technology Partnership (TTP) - specializes in the design and development of small-scale, multi-parallel fermentation systems particularly for biopharmaceutical applications. Furthermore TAP Biosystem’s portfolio includes automated cell processing systems and other bench top equipment. Founded in 1987, the company is headquartered in Royston, UK. TAP Biosystems generated sales revenue of approx. €26 million in 2012/13 and employs about 160 people worldwide.
RNS announcement
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Sartorius Group announces £28 million offer to acquire TAP Biosystems Group plc
8 October 2013
Goettingen...Sartorius, a leading international laboratory and pharmaceutical equipment provider, yesterday (Monday) announced that its subgroup Sartorius Stedim Biotech has made a cash offer to acquire the UK company TAP Biosystems Group plc through its wholly owned subsidiary, Sartorius Stedim Biotech GmbH.