The likes of Thermo Fisher and Beckman Coulter don't buy fledgling businesses at bargain basement prices. Instead they invest in established companies with a proven track record and history of Maintainable Earnings. The businesses have usually been a part of their established supply chain. Often the businesses continue as an outside entity. The other clue to this M & A behavior is the sheer size of the target. Some recent examples:
Thermo Fisher
31.10.22 The Binding Site Group. Oncology testing. 1,100 Employees US$2.6billion
01.05.22 Pepro Tech. Recombinant Proteins. US$1.85billion
Beckman Coulter
17.06.21 Aldevron 600 Employees US$9.6billion
And they like to do it with borrowed money or hybrid equities.
A takeover at 0.06 or 0.26 is the least of our problems!
GLTAH
Ann: Entitlement Offer Letters Mailed to Shareholders, page-11
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