PerkinElmer Inc. (NYSE:PKI) shares are now down more than 4 percent today, falling $1.12 to $26.60 after the diagnostics giant flatly denied takeover speculation.
PerkinElmer rejected a Bloomberg News report yesterday that board members are still working with Bank of America on strategic options, according to a regulatory filing, and has yet to decide whether to pursue another acquisition or put itself up for sale after losing out to Danaher Corp (NYSE:DHR) in bid to acquire Beckman Coulter Inc. (NYSE:BEC).
But PerkinElmer said “such speculation is inaccurate,” adding that a sale was not being discussed because “such a transaction is not in PerkinElmer’s current strategic plans.” The Bloomberg report cited unidentified people with knowledge of the matter.
Danaher last month announced a deal to acquire Beckman for $6.8 billion, or $85.50 a share, reportedly 25 cents higher than PerkinElmer’s best offer.
PKI also said it “remains committed to growing its business while leveraging the strong foundation that it has already built to achieve future growth” without detailing what those efforts might entail.