Bio-Rad Announces Agreement in Principle to Acquire MJ Research

Bio-Rad Announces Agreement in Principle to Acquire MJ Research



HERCULES, Calif., June 2  /PRNewswire-FirstCall/ -- Bio-Rad Laboratories, Inc.
(Amex: BIO; BIOb), a multinational manufacturer and distributor of life science
research products and clinical diagnostics, announced today that it has signed
a binding letter agreement which sets forth certain principal terms for the
acquisition by Bio-Rad of MJ GeneWorks, Inc., and its subsidiaries for
approximately $47 million in cash plus the assumption of certain liabilities of
those companies. MJ GeneWorks is the parent company of MJ Research, Inc. of
Waltham, Massachusetts, a biotechnology company that specializes in thermal
cycling instrumentation and reagents used to amplify DNA. The acquisition is
subject to completion of a definitive purchase agreement and necessary
government approvals.

MJ Research, Inc. is a biotechnology company specializing in premium
instruments and consumables used in modern biological research. MJ Research
pioneered the use of Peltier-effect technology and has introduced a number of
other innovations in the thermal-cycling field. MJ Research employs
approximately 300 employees.

Bio-Rad Laboratories, Inc. (http://www.bio-rad.com/) is a multinational
manufacturer and distributor of life science research products and clinical
diagnostics. It is based in Hercules, California, and serves more than 70,000
research and industry customers worldwide through a network of more than 30
wholly owned subsidiary offices.

Various statements made within this press release may constitute
"forward-looking statements" for purposes of the Securities and Exchange
Commission's "safe harbor" provisions under the Private Securities Litigation
Reform Act of 1995 and Rule 3b-6 under the Securities Exchange Act of 1934. The
forward-looking statements contained herein involve risks and uncertainties
that could cause results to differ materially from the Company's expectations. 

DATASOURCE: Bio-Rad Laboratories, Inc.



CONTACT:  Christine Tsingos, Vice President and Chief Financial Officer,

or Ron Hutton, Treasurer, both of Bio-Rad Laboratories, Inc., [phone],

or 



Web site:  http://www.bio-rad.com/

Copyright