Summary
British Biocell International, the Cardiff-based diagnostics company, is to buy Alchemy Laboratories in Dundee for pounds 4.5m in cash and shares. BBI also aims to raise pounds 3m through new share issues. Alchemy is BBI's biggest UK rival. Both firms have developed rapid tests which make use of gold colloids, and each enterprise also serves the defence sector.
Last year Alchemy had a turnover of pounds 1.26m and pre-tax profits of pounds 540,000. It also has pounds 1.4m in cash, so BBI calculates the effective acquisition price is pounds 3.1m.See the full content of this document
Extract
Biocell Buys Its Main Competitor
Richard Lamotte, managing directo...
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