Life Technologies (Carlsbad, CA) has agreed to an acquisition by Thermo Fisher Scientific (Waltham, MA). In its press release, both companies provided further details on the acquisition. The acquisition received the approval from the boards of directors at both companies. Under the agreement, Life Technologies will be acquired by Thermo Fisher for $76 per fully-diluted common share. This adds up to approximately $13.6 billion. Thermo Fisher will also also take on Life Technologies' $2.2 in debt. However, Thermo Fisher has stated that the debt is well-worth the value of the acquisition. Thermo Fisher is currently one of the leaders in lab products. With Life Technologies, the healthcare products giant will gain access to the DNA sequencing market. In particular, Life Technologies' marquee Ion Torrent sequencer holds promise. Thermo Fisher stated that many of Life Technologies' products work well with its existing point-of-care, research and molecular diagnostics. Thermo states that the acquisition could be worth as much as $275 million in income synergies over the next 36 months. Marc Casper is the CEO and president of Thermo Fisher Scientific. In prepared remarks, he said, "The acquisition of Life Technologies enhances all three elements of our growth strategy: technological innovation, a unique customer value proposition and expansion in emerging markets." Gregory Lucier, CEO and chairman of Life Technologies, also shared remarks in the press release. He stated that "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.
Thermo Fisher Acquires Life Technologies for $13.6 Billion
Article-Thermo Fisher Acquires Life Technologies for $13.6 Billion