Lehman Brothers Collection - Contemporary Business Archives

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Lehman Brothers Collection

Twentieth-Century Business Archives

Beckman Instruments, Inc. Deal - Lehman Brothers Collection

Beckman Instruments, Inc.

Company Deal150,000 shares common stock ($1 par value)
Transaction TypeCommon Stock
Deal DescriptionBeckman Instruments, Inc., was to use a portion of the net proceeds for the retirement in full of all short-term unsecured notes, which notes were payable to the Security-First National Bank of Los Angeles, and evidence loans made to finance the construction of the company's new plant at Fullerton. The balance of the net proceeds was added to the general funds of the company, to be available for general corporate purposes, including the replenishing of working capital and possible purchase of Specialized Instruments Corporation and Spinco Service Company. At the time of the deal, Beckman Instruments was in negotiations for the purchase by it of certain assets of both companies. Specialized Instruments Corp. designed, manufactured, and sold several models of ultracentrifuge instruments, an electrophoresis diffusion instrument, and a paper electrophoresis instrument. Spinco Service Co. installed, repaired, and serviced instruments sold by Specialized Instruments, and sold repair and replacement parts for such instruments. At the time, Specialized Instruments was the leader in the field of instruments used in biological, medical, chemical, and pharmaceutical research.
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