Maravai LifeSciences Rejects Sartorius' $11B Takeover Bid: Reuters

Germany-based laboratory equipment supplier Sartorius AG has approached Maravai LifeSciences Holdings Inc MRVI with an $11 billion acquisition offer, Reuters reported citing people familiar with the matter.
Maravai is a U.S. provider of capping reagents for COVID-19 vaccines.
According to the Reuters report, Maravai rejected the $42 per share all-cash offer from Sartorius earlier this month as inadequate, the sources said.
It is unclear whether Sartorius will return with a new offer or whether Maravai will attract acquisition interest from other laboratory equipment and supplies providers.
Maravai makes reagents used to produce mRNA vaccines, including the one developed by Pfizer Inc PFE / BioNTech SE BNTX against COVID-19.
Last week, Maravai reported more than double Q4 FY21 sales to $228.4 million.
For FY22, the Company forecasted sales of $920 million - $960 million, reflecting overall growth of 15% to 20% vs. the consensus of $863.9 million.
Guided adjusted EPS at $1.70 - $1.84 (consensus of $1.54), with adjusted EBITDA of $630 million - $670 million.
Price Action: MRVI shares traded 2.99% lower at $36 premarket on the last check Monday.