NEW YORK (AP) -- Shares of Beckman Coulter Inc. surged in premarket trading Friday on media reports that the medical testing instrument maker is considering selling itself.
The reports indicated that firms including Blackstone Group LP and Apollo Global Management LLC could buy Beckman Coulter, and industrial companies might also be interested in a deal. The Brea, Calif., company was said to have hired Goldman Sachs to consider its options.
The stock jumped $13.75, or 24 percent, to $70.84 in premarket trading.
Beckman Coulter shares finished at $57.09 Thursday, and the company's market capitalization is about $3.98 billion. But Beckman Coulter has reported some setbacks this year: in March, it said it would need to win new regulatory approval for a test kit that is used to determine if a patient has suffered a heart attack. The Food and Drug Administration said Beckman Coulter appeared to have made changes to the AccuTnl test kits without its approval.
In July, Beckman Coulter said its second-quarter profit declined and cut its annual profit and sales estimates, citing lower revenue from developed markets. Its shares fell 21.1 percent on July 23 and had not returned to their previous levels. Scott Garrett resigned unexpectedly as the company's chairman, CEO and president in September. Garrett had been CEO for five years, and no reason was given for his departure.
Beckman Coulter, based in Brea, Calif., did not immediately respond to calls seeking comment.
The reports indicated that firms including Blackstone Group LP and Apollo Global Management LLC could buy Beckman Coulter, and industrial companies might also be interested in a deal. The Brea, Calif., company was said to have hired Goldman Sachs to consider its options.
The stock jumped $13.75, or 24 percent, to $70.84 in premarket trading.
Beckman Coulter shares finished at $57.09 Thursday, and the company's market capitalization is about $3.98 billion. But Beckman Coulter has reported some setbacks this year: in March, it said it would need to win new regulatory approval for a test kit that is used to determine if a patient has suffered a heart attack. The Food and Drug Administration said Beckman Coulter appeared to have made changes to the AccuTnl test kits without its approval.
In July, Beckman Coulter said its second-quarter profit declined and cut its annual profit and sales estimates, citing lower revenue from developed markets. Its shares fell 21.1 percent on July 23 and had not returned to their previous levels. Scott Garrett resigned unexpectedly as the company's chairman, CEO and president in September. Garrett had been CEO for five years, and no reason was given for his departure.
Beckman Coulter, based in Brea, Calif., did not immediately respond to calls seeking comment.
