Beckman Coulter Inc. (NYSE:BEC) is up for sale for as much as $5 billion, according to the Wall Street Journal.
The Brea, Calif.-based medical device and diagnostics maker is drawing interest from its rivals and private equity players, according to the newspaper, which cited “people familiar with the matter.” Goldman Sachs Group Inc. (NYSE:GS) is running the sale, which began a few weeks ago with Beckman Coulter management wooing potential buyers, according to the Journal‘s sources.
A deal is weeks away, they said, and the process could founder if potential acquirers don’t pony up enough to suit Beckman. The company and Goldman declined to comment on the story, according to the newspaper.
Beckman posted third-quarter net earnings of $67.0 million, or 95 cents per share, on sales of $893.8 million during the three months ended Sept. 30. That compares with earnings of $1.5 million, or 2 cents per share, on sales of $822.8 million during the same period last year.
BEC shares were trading at $71.00 in pre-market activity, up more than 25 percent.