TAP Biosystems Group plc Shareholders Approve Sartorius’ Takeover Offer
The shareholders of UK company TAP Biosystems Group plc approved Sartorius’ takeover offer at the shareholder meetings held yesterday. The cash offer made through Sartorius’ wholly-owned subsidiary Sartorius Stedim Biotech GmbH valued TAP Biosystems Group plc at approximately €33 million. The transaction is expected to close at the end of 2013.
The planned takeover of TAP Biosystems Group plc will enable Sartorius to further extend its bioprocess portfolio in the area of fermentation, especially in the early phases of product and process development. TAP Biosystems specialises in the design and development of small-scale, multi-parallel fermentation and cell culture systems for biopharmaceutical applications. Furthermore, TAP Biosystems’ portfolio includes automated cell processing systems and other benchtop equipment. Founded in 1987, the company is headquartered in Royston, UK. TAP Biosystems generated sales revenue of approximately €26 million in 2012/2013 and employs around 160 people worldwide.
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