Corning Acquires Labware Maker In $400M Deal

Law360, New York (September 16, 2009, 2:30 PM EDT) -- Glass and ceramics maker Corning Inc. has reached a $400 million cash deal to acquire Axygen BioScience Inc. and its subsidiaries from the private equity firm American Capital Ltd., in a move Corning said was aimed at boosting its laboratory products business.

Labware manufacturer and distributor Axygen BioScience will be integrated into Corning's life sciences unit, Corning said. The deal will bolster Corning's continuing efforts to build a broad line of laboratory research products it can offer customers, the company said.

Based in Union City, Calif.,...
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