Friday, December 10, 2010

Beckman Coulter (NYSE:BEC) Puts Itself on the Trading Block

Beckman Coulter (NYSE:BEC) has reportedly hired Goldman Sachs (NYSE:GS) to explore options concerning whether or not to put itself up for sale.

There are several companies and private equity firms that have shown an interest in Beckman, and while no sale is a surety, it is a very high probability.

If an offer is made for them, which is sure to come, Beckman has reserved the right to refuse any of them they deem insufficient.

While Beckman exceeded expectations in the third quarter, they have had continual quality control issues which they have said they believed to have identified, and had been working on solving them, although it'll take time to do so.

CEO Scott Garrett stepped down in September, surprising most people.

So far this year the company has dropped close to 12 percent, and closed Thursday at $57.09, down $0.34, or 0.59 percent.

No comments: