Thermo Fisher acquires rival in Gene Sequencing Equipment, Life Technologies, for $13.6 billion
The scientific equipment maker Thermo Fisher agreed to the 13.6 billion acquisition of Life Technologies Corporation on Monday.
The deal will help the company expand its market share in medical device, research tools and genetic sequencing machines production, a fast-growing area. Scientists and drug companies use genetic sequencing to help create personalized medicine for patients.
Thermo Fisher Scientific, is offering shareholders $76 for each of their shares in Life Technologies, 12 percent above the company’s closing stock price on Friday. The company said it would also assume about $2.2 billion in debt.
The acquisition is the latest in a series of deals for Thermo Fisher, which was itself created through the merger of Thermo Electron and Fisher Scientific in 2006.
Life Technologies manufacturers more than 50,000 types of medical device and various research tools, including genetic sequencing and DNA analysis machines. The company, based in California, reported revenue of $3.8 billion in 2012. Thermo Fisher acquires all medical device and research tools licenses.
Thermo Fisher is expected to close the acquisition deal by the end of next year.
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