SAC Capital continues to invest in Invitrogen ahead of merger

By Lisa Kerner

Charlotte, N.C., July 28 - SAC Capital Advisors, LLC and its affiliates upped their stake in Invitrogen Corp. to 6.9% from 5.2%, according to a schedule 13D filed with the Securities and Exchange Commission.

The investors beneficially own 6,171,830 shares of Invitrogen. On July 1, SAC reported owning 4,809,782 Invitrogen shares.

In June, Invitrogen agreed to acquire Applera Corp.'s Applied Biosystems Group in a $6.7 billion stock and cash deal slated to close in the fall of 2008.

Under the companies' definitive merger agreement, Applera-Applied Biosystems shareholders will receive $38 for each share of Applera-Applied Biosystems stock they own, with an expected split of 45% cash and 55% Invitrogen stock, it was previously reported.

Located in Carlsbad, Calif., Invitrogen develops, manufactures and markets research tools in reagent, kit and applications forms for research, drug discovery and biological products manufacturers.

Applied Biosystems, one of two Applera operating groups, develops and markets instrument-based systems, consumables, software and services used to analyze nucleic acids, small molecules and proteins. The company is located in Norwalk, Conn.

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