Valuing Amersham

9 October 2003 By Robert Cyran Follow @rob_cyran

The shares currently trade at breakup value, but no takeover premium has been added. Any acquirer is likely to split up the UK medical services company.

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General Electric made a bid for Amersham according to the Wall Street Journal. No details are available on the amount bid, or whether Amersham regards the bid as friendly.

The UK medical company is a leader in two separate fields. It produces highly profitable contrast agents to increase the effectiveness of diagnostic scanning machines using Xray, MRI and PET technologies. Amersham's division for protein separation, a necessary step in the production of antibody drugs, also is very profitable. The company also unprofitably produces of equipment and supplies for drugs researchers.

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