USA: Neogen signs letter of intent to buy food safety company
Neogen Corporation (Nasdaq: NEOG) has entered into a letter of intent to acquire QA Life Sciences, Inc. of San Diego, Calif. The purchase is subject to due diligence and approval of Neogen's Board of Directors, and is expected to be completed in less than 60 days. QA Life Sciences is a niche player in the foodborne bacteria testing market with unique, established technology that complements Neogen's comprehensive food safety product offerings. QA's sales were less than $1.0 million in its last fiscal year. The majority of the company's products have the distinct competitive advantage of carrying important industry-favored quality approvals from the independent Association of Official Analytical Chemists (AOAC).
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