Amersham, Pharmacia, University of Washington deal

PHA will sell to AHM its 45% holding in Amersham Biosciences plc (Little Chalfont, U.K.) for L704 million ($1 billion) in cash, giving AHM 100% ownership of the joint venture. Amersham Biosciences, formerly Amersham Pharmacia Biotech, was formed in 1997 as a joint venture between PHA and AHM to offer DNA sequencers and related products to life science researchers. Amersham Biosciences filed for an IPO in 2000, but AHM said the filing will be withdrawn shortly. AHM did not rule out an IPO or spin-out transaction at a later date. ...