Thermo buys Life Technologies for $13.6 billion
Thermo Fisher Scientific (Massachusetts, USA) will acquire Life Technologies Corporation (California, USA) under the terms of a definitive agreement signed earlier this week.
Thermo Fisher Scientific (Massachusetts, USA) will acquire Life Technologies Corporation (California, USA) under the terms of a definitive agreement signed earlier this week.
The deal is estimated to be $76.00 a share at a total cost of $13.6 billion. The transaction was reportedly approved by both of the company’s board of directors, according to a press release.
Life Technologies is a global biotechnology company, and is recognized as a leading player in the development of sequencing technology. The acquisition will place Thermo Fisher as a key competitor in the development of advanced genetic testing, the potential key to personalized medicine.
“We are extremely excited about this transaction because it creates the ultimate partner for our customers and significant value for our shareholders,” said Marc N. Casper, President and CEO of Thermo Fisher Scientific.
Gregory T. Lucier, Chairman and CEO of Life Technologies, commented, “This transaction brings together two companies intent on accelerating innovation for our customers and achieving greater success in a highly competitive global industry.”
Lucier added: “This combination delivers immediate and significant cash value to our stockholders and represents a successful conclusion to the board’s strategic review to enhance stockholder value and develop an even stronger future for Life Technologies.”
For more information please visit:
www.lifetechnologies.com
or
www.thermoscientific.com
This story originally appeared in The Column. Click here to view that issue.
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