Cleveland, which has poured almost $1 billion into such projects as three sports stadiums and the Rock & Roll Hall of Fame, is on the verge of spending $465 million in an effort to remake itself as the epicenter for the sale of medical equipment and supplies.
PerkinElmer Inc. made a bet-the-farm offer to take over Beckman Coulter Inc. and had the highest bid in the final hours of this month’s auction for the medical- equipment maker, according to regulatory filings and people with knowledge of the matter.
Gen-Probe Inc. , the tester of sexually transmitted diseases that jumped 18 percent on speculation it will be sold, may still be worth $1.3 billion more in a takeover by Novartis AG or Life Technologies Corp.
Gen-Probe Inc. , a maker of tests for AIDS and the West Nile virus, hired Morgan Stanley to seek a buyer for the company, according to three people with knowledge of the sale. The shares rose the most in almost seven years.
Thermo Fisher Scientific Inc. , the largest maker of laboratory instruments, rose to a record high in New York trading after agreeing to buy Sweden’s Phadia AB to expand in testing for allergies and autoimmune diseases.