EG&G to Acquire P-E Analytical Instruments

EG&G, Inc. (Wellesley, MA) is planning to acquire Perkin-Elmer's Analytical Instruments Div. for $425 million. The transaction is the latest in a series of acquisitions, divestitures and consolidations intended to drive EG&G growth in commercial technology markets including food testing. Ownership of the brand name "Perkin-Elmer" will be transferred to EG&G.

"Today's announcement of our intention to acquire Perkin-Elmer's Analytical Instruments is an important milestone for our company," said Gregory Summe, EG&G president and CEO. "This is truly a strategic acquisition for us—one that will allow us to build scale in our existing Instruments and Life Sciences units and to better position our company for continued growth."

Both companies' boards of directors have approved the transaction. Its completion is subject to approval by certain government regulatory agencies. EG&G expects to close this transaction during the second quarter.