Life Sciences Research CEO makes bid for company

By Lisa Kerner

Charlotte, N.C., March 4 - Life Sciences Research, Inc. chairman and chief executive officer Andrew Baker made a non-binding proposal to acquire all of the company's outstanding shares for $7.50 each.

The company said its common stock closed at $4.79 per share on Tuesday.

Baker's offer is conditioned upon, among other things, financing commitments and the completion of due diligence, according to his March 3 letter to Life Sciences' board of directors included in a form 8-K filed with the Securities and Exchange Commission.

The board has formed a special committee of independent directors to consider Baker's proposal as well as other strategic alternatives, a Life Sciences news release said.

Life Sciences Research is an East Millstone, N.J.-based contract research organization, providing product development services to the pharmaceutical, agrochemical and biotechnology industries.

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