Ticker: PerkinElmer to pay $5.25B for BioLegend; R.I. extends outdoor dining

PerkinElmer will spend about $5.25 billion to acquire BioLegend, which makes antibodies used in gene therapy and reagents for drug discovery.

The Waltham-based company said Monday that it will pay a combination of cash and stock for the privately held BioLegend in a deal expected to close by the end of the year.

PerkinElmer, which sells testing equipment and scientific instruments, called the acquisition the largest in company history. It estimates that BioLegend will generate $380 million in revenue next year.

BioLegend, headquartered in San Diego, has more than 700 employees based mostly in the United States. Its reagents are used in disease diagnostics as well as drug discovery, a PerkinElmer spokeswoman said.

Outdoor dining in R.I. extended through the spring

The easing of rules on outdoor dining that proved to be a critical lifeline for many Rhode Island restaurants during the COVID-19 pandemic were extended Monday during a ceremonial bill signing by Gov. Daniel McKee.

The law signed outside Meldgie’s Diner in Narragansett puts a moratorium until April 1 on enforcement of municipal ordinances or zoning requirements that would penalize restaurant and bar owners for modifying their premises to allow for outdoor dining.

“When something works and makes sense, you continue it,” McKee said. “That is what this legislation is all about: allowing these outdoor seating arrangements to continue so we can support small, locally owned restaurants that have faced numerous challenges since the outset of the pandemic.”

from Boston Herald https://ift.tt/2Wt4MgB