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June 23, 2017, 8:12 a.m. EDT

Repligen to buy filtration company Spectrum for $359 million in cash and stock

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By Tomi Kilgore

Repligen Corp. /zigman2/quotes/210324360/composite RGEN +0.84% announced Friday an agreement to buy privately-held filtration company Spectrum Inc. for about $359 million. Under terms of the deal, Repligen will pay $120 million in cash and 6.154 million shares of its stock, which represents about 18% of the shares outstanding. Repligen expects the deal to be completed during the third quarter of 2017, and add $17 million to $18 million to Repligen's 2017 revenue. The deal is expected to add to earnings in 2018. "This is a pivotal transaction for Repligen that meets all of our acquisition criteria and is a major step forward in building Repligen as a global leader in bioprocessing and achieving our long term financial goals," said Repligen Chief Executive Tony Hunt. The stock, which was still inactive in premarket trade, has rallied 30% year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.49% has gained 8.7%.

/zigman2/quotes/210324360/composite
US : U.S.: Nasdaq
$ 97.31
+0.81 +0.84%
Volume: 61,195
April 9, 2020 11:02a
P/E Ratio
221.73
Dividend Yield
N/A
Market Cap
$5.03 billion
Rev. per Employee
$354,073
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/zigman2/quotes/210599714/realtime
US : S&P US
2,790.97
+40.99 +1.49%
Volume: 1.35B
April 9, 2020 11:02a
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