BioLife Solutions will issue more than 6.6 million shares to acquire Ohio University-affiliated Stirling Ultracold in an all-stock transaction.
Stirling Ultracold, a US-based manufacturer of ultra-low temperature mechanical freezers linked to Ohio University, has agreed to an acquisition by bioproduction products and services supplier BioLife Solutions.
BioLife will issue just over 6,64 million shares, implying a price of approximately $25m paid for Stirling at the former’s current stock price of $37.71.
The deal is expected to close in the second quarter of the year. Following the acquisition, Stirling Ultracold will continue to operate as a separate brand…
