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PerkinElmer to acquire RHS

PerkinElmer Inc. agreed to fully acquire RHS Ltd.'s issued share capital for 28 Australian cents per share.

Under the transaction, which will be executed through a scheme implementation agreement, Waltham, Mass.-based PerkinElmer will acquire 89,920,483 outstanding RHS shares. The board of RHS unanimously approved the transaction, which remains subject to shareholder approval.

Thebarton, Australia-based RHS said the acquisition reflects the future potential of its genetic technology products, and will enable it to reach the clinical and applied research markets through PerkinElmer's global team.

The scheme is expected to be implemented on June 11.

Taylor Collison is acting as corporate adviser and Johnson Winter & Slattery as legal adviser to RHS.

The acquisition follows PerkinElmer's $1.3 billion purchase of a German diagnostics company in December 2017.