PerkinElmer (PKI) announced that it has completed the acquisition of BioLegend, a global developer and manufacturer of antibodies and reagents. The cash and stock deal worth $5.25 billion was announced in July 2021. PerkinElmer provides solutions to diagnostics, life science, food and applied markets. With this deal, PerkinElmer will be able to expand its life science franchise, particularly in the areas like cytometry, proteogenomics, multiplex assays and bioprocessing. Earlier, PerkinElmer said that the acquisition might be accretive to its revenues and margin profile. Following the completion of the deal, about $0.30 of adjusted EPS accretion is expected in the first year and over $0.50 in the second year.
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