Danaher said to be interested in Catalent, shares surge

US life sciences company Danaher Corp. has reportedly expressed takeover interest in contract manufacturer Catalent.

Bloomberg cited people familiar with the matter as saying that the overtures by Danaher in recent months valued Catalent at a significant premium. It was unclear how Catalent will proceed or whether it’s receptive to a takeover offer, and sources said a deal is not imminent.

A representative for Catalent told Bloomberg that as a matter of company policy, it does not comment on market rumours or speculation, while a representative for Danaher didn’t respond to a request for comment.

Based in New Jersey, Catalent provides delivery technologies and development solutions for drugs, biologics and consumer health products. Meanwhile, Danaher has become a life sciences focused company since spinning out its industrial business arm Fortive Corp. in 2016.

Bloomberg said a combination of the two companies would be one of the largest transactions this year.

At 1235 GMT, Catalent shares were up 27% in pre-market trade at $70.95.