FITCHBURG, WI (WTAQ) – Promega Corporation, based in Fitchburg, is one of the area’s most successful, homegrown and fiercely independent biotechnology companies.
Currently it is in the midst of a hostile takeover attempt by two shareholders who want to buy a majority of shares and kick out Promega’s founder and Chief Executive Officer Bill Linton.
Ted Kellner, of Milwaukee, and Nathan Brand, of Miami, sent a letter to shareholders, dated July 24th, offering to buy outstanding shares for $625 per share. That’s about two-and-a-half times what the company was valued at recently by Linton and the board of directors.
(Story courtesy of Wheeler News Service)
