Beckman Coulter Inc., the Fullerton-based medical testing company, said Thursday that Biosite Inc. of San Diego prefers Inverness Medical Innovations Inc.’s $1.64 billion takeover offer over Beckman’s original $1.55 billion bid.
Beckman has until May 2 to match Massachusetts-based Inverness’ $90 a share cash offer or bid higher. Beckman Coulter will receive a $50 million termination fee if Biosite backs out of its deal with Beckman and accepts the Inverness bid.
Beckman said it’s considering its options and will “determine how to best serve its shareholders” and is not obligated to respond to Biosite’s notice.
Beckman launched a tender offer earlier this month for Biosite, a maker of diagnostic tests, at $85 a share in cash. That deal’s already received antitrust approval.
