Summary
- Charles River Laboratories has agreed to acquire Citoxlab for $510 million in cash.
- Citoxlab is a non-clinical CRO providing research services to early stage development clients in the EU region.
- CRL gains a geographical footprint in the EU while adding to its scientific portfolio of services for early stage research.
- Looking for a community to discuss ideas with? IPO Edge features a chat room of like-minded investors sharing investing ideas and strategies. Start your free trial today »
Quick Take
Charles River Laboratories (CRL) announced it has made a binding offer to acquire Citoxlab for about $510 million in cash (€448 million).
Citoxlab operates as as a non-clinical contract research organization [CRO].
CRL is acquiring Citoxlab to expand its service offerings into the EU and add to its scientific portfolio. Investors like CRL’s results and the deal provides no reason to change that view.
