On Monday Jan. 4, Charles River (NYSE: CRL) Laboratories announced that it has acquired Distributed Bio, Inc. for $83 million. The acquisiton closed on Dec. 31, 2020 and marks the peak of an "exclusive partnership" between the two companies. The deal was initiated in Oct. 2018.
The deal was completed entirely in cash and is subject to customary closing adjustments. The transaction also includes contingent additional payments of up to $21 million based on future performance. The proposed acquisition and associated fees have been financed through Charles River's revolving credit facility and cash.
This merger will expand Charles River's scientific capabilites by providing the company with a groundbreaking large-molecule discovery platform. Additionally, the de...