NanoString Technologies, Inc., a leading provider of biomedical instruments for discovery and translational research, announced that virtually all of its assets will be acquired by Bruker Corporation, a global company manufacturing analytical instruments for biomedical sciences, for approximately $392.6 million in cash plus certain commitments. This is stated in the media reports.
NanoString's market-leading platforms for spatial biology and gene expression enable researchers to gain unprecedented insights into cancer, immunology, neurology and other areas of critical illness. As a global leader in the bioscience analytical instrumentation industry, Bruker is uniquely positioned to provide customers with continuous access to NanoString innovations.
The transaction was negotiated as part of a court-supervised sale procedure under Chapter 11 of the U.S. Bankruptcy Code in accordance with Section 363 of the U.S. Bankruptcy Code and is expected to close in early May 2024. Bruker submitted a qualifying application on April 12. According to the results of the auction on April 16, Bruker's offer was chosen as the winner. The significantly improved terms of the Bruker deal represent an increase in value of approximately 78% compared to the competitor's offer. The agreement is subject to approval by the bankruptcy court and compliance with other usual terms of the transaction.
NanoString represents Willkie Farr & Gallagher LLP as an advisor, AlixPartners LLP as a restructuring consultant and Perella Weinberg Partners LP as an investment banker for restructuring. Bruker is represented by Morgan Lewis & Bockius LLP as an attorney and Goldman Sachs & Co. LLC as a financial advisor.
NanoString Technologies, a leader in the field of spatial biology.
Bruker is an American manufacturer of scientific instruments for the study of molecules and materials, as well as for industrial and applied analysis. Headquartered in Billerica, Massachusetts, it is the publicly traded parent company of the Bruker Scientific Instruments and Bruker Energy & Supercon Technologies divisions.
