LOS ANGELES, Sept 4 (Reuters) - Scientific instruments maker PerkinElmer Inc said on Friday it agreed to acquire Chinese diagnostic product company Shanghai Sym-Bio LifeSciences Co for 435 million renminbi ($63.7 million).
The agreement contains representations, warranties and covenants and provides for indemnification by each of the parties in the event of a breach of representations, PerkinElmer said in a statement.
The company, based in Waltham, Massachusetts, also said it is party to the agreement solely as a guarantor with respect to obligations of its Singapore unit, which will acquire the Chinese company.
PerkinElmer warned in July that its full-year earnings would fall short of its previous estimates, citing constrained hospital spending due to the weak economy.
The acquisition is subject to regulatory approvals and other customary closing conditions, but is expected to be completed by the end of September.
(Reporting by Deena Beasley; editing by Andre Grenon) Keywords: PERKINELMER/ (deena.beasley@thomsonreuters.com +1-213-955-6746; Reuters Messaging: deena.beasley.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The agreement contains representations, warranties and covenants and provides for indemnification by each of the parties in the event of a breach of representations, PerkinElmer said in a statement.
The company, based in Waltham, Massachusetts, also said it is party to the agreement solely as a guarantor with respect to obligations of its Singapore unit, which will acquire the Chinese company.
PerkinElmer warned in July that its full-year earnings would fall short of its previous estimates, citing constrained hospital spending due to the weak economy.
The acquisition is subject to regulatory approvals and other customary closing conditions, but is expected to be completed by the end of September.
(Reporting by Deena Beasley; editing by Andre Grenon) Keywords: PERKINELMER/ (deena.beasley@thomsonreuters.com +1-213-955-6746; Reuters Messaging: deena.beasley.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.