Abcam shareholders approve $5.7 billion Danaher deal

(Reuters) -Abcam shareholders on Monday approved the proposal from Danaher Corp to acquire all outstanding shares of the company for $24 per share in cash.

Danaher agreed to buy Abcam in September in a $5.7 billion all-cash deal, including debt, in a bid to expand its portfolio of products and services.

Abcam founder Jonathan Milner had said at the time he would vote against the acquisition of the company, as the offer price undervalues the protein consumables maker.

Milner, who served as Abcam's CEO from 1999 to 2014 and later as deputy chairman from 2015 to 2020, had appealed to shareholders in June to elect him as executive chairman, while calling for the removal of Peter Allen, Michael Baldock and Sally Crawford as directors of the company.

Cambridge, England-based Abcam manufactures and supplies so-called protein consumables such as antibodies and reagents used for medical research.

(Reporting by Pratik Jain; Editing by Shounak Dasgupta and Krishna Chandra Eluri)