$375MM+ Ion Torrent Acquisition. Consideration is 60% cash 40% stock (offset by new buyback). $350MM in technical milestone payments could be made through 2012.
Based on recent comparable deals, we believe LIFE is likely expecting Ion Torrent to contribute at least $40-70MM in sales over the next 12 months. The deal is expected to be only $0.02/share dilutive in 2010, neutral in 2011. 2010 & 2011 EPS guidance was reiterated.
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