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Beckman Coulter planning $500 million offering of debt securities
By Angela McDaniels
Tacoma, Wash., May 7 - Beckman Coulter, Inc. plans to issue $500 million of debt securities, according to its 10-Q report for the first quarter. The report was filed with the Securities and Exchange Commission Thursday.
Beckman Coulter will apply the proceeds from the debt offering toward its upcoming acquisition of the diagnostic systems portion of Olympus Corp.'s life science business. The remainder of the financing will be provided by $250 million of newly issued common stock and cash.
The company agreed on Feb. 27 to acquire the Olympus business for ¥77.45 billion and entered into forward contract transactions that effectively fixed the dollar cost of the purchase at $780 million. The acquisition is expected to close in the third quarter.
Beckman Coulter is based in Fullerton, Calif., and makes biomedical testing instrument systems, tests and supplies.
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