Equipment / Market Trends / Supplier News

Thermo Fisher Scientific to acquire Life Technologies

April 16, 2013

Thermo Fisher Scientific, Waltham, Mass., and Life Technologies Corp., Carlsbad, Calif., have signed a definitive agreement under which Thermo Fisher will acquire Life Technologies for $76 in cash per fully diluted common share, or approximately $13.6 billion, plus the assumption of net debt at close ($2.2 billion as of year end 2012).

The transaction, which was approved by both companies’ boards of directors, will create an unrivaled leader in serving research, specialty diagnostics and applied markets. The combination builds on both companies’ technological strengths to accelerate results for life sciences customers working in proteomics, genomics and cell biology.

“We are extremely excited about this transaction because it creates the ultimate partner for our customers and significant value for our shareholders,” says Marc N. Casper, president and CEO of Thermo Fisher Scientific. “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.

“Our customers in research and applied markets will now be able to achieve even higher levels of innovation and productivity by working with the combined company. We’re especially excited about the new opportunities we will have to leverage our complementary offerings, fueled by a shared commitment to continuous innovation. For our shareholders, we expect the transaction to generate attractive financial returns, as well as significant and immediate accretion to our adjusted [earnings per share].”

Gregory T. Lucier, chairman and chief executive officer of Life Technologies, says, “This transaction brings together two companies intent on accelerating innovation for our customers and achieving greater success in a highly competitive global industry. Further, 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. We look forward to joining forces with the outstanding team at Thermo Fisher, which shares our commitment to customers, employees and the communities we serve.”

Casper adds, “We look forward to welcoming our new colleagues from Life Technologies to the Thermo Fisher team. Together, we will be in an even stronger position to fulfill our company’s mission, which is to enable our customers to make the world healthier, cleaner and safer.”

Life Technologies provides innovative products and services to customers conducting scientific research and genetic analysis, as well as those in applied markets, such as forensics and food-safety testing. With 2012 revenues of $3.8 billion, its comprehensive offering includes a broad range of reagents, consumables, instruments and systems. Life’s leading technologies are protected by approximately 5,000 patents and licenses, and it builds on this position through a strong commitment to innovation. Life has an expansive commercial presence and global footprint as well, with more than 10,000 employees serving its customers around the world.

Life Technologies’ president CEO Mark P. Stevenson is expected to have a significant leadership role in the combined company. In addition, Thermo Fisher intends to elect a member of the Life Technologies board of directors to the Thermo Fisher board.

Source: Business Wire

Did you enjoy this article? Click here to subscribe to Snack Food & Wholesale Bakery Magazine 

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

New chips off the old block

Here’s our tour of potato chip producer, Ballreich Bros., our 2014 Snack Food Manufacturer of the Year. 

5/1/13 8:00 am EST

Food Safety Summit Conference & Expo - Live Webinar Sessions

The Food Safety Summit offers the opportunity to attend and participate in these selected sessions remotely by registering and joining in LIVE from your computer.

THE MAGAZINE

Snack Food & Wholesale Bakery Magazine

Cover Image

2014 April

Come check out the latest edition of Snack Food & Wholesale Bakery! This month's edition features a special look into the family-owned Ballreich Bros. manufacturer in Tiffin, Ohio.

Table Of Contents Subscribe

What’s for breakfast?

What’s your favorite grain-based breakfast food?
View Results Poll Archive

THE SNACK AND BAKERY STORE

organic-production-&-food-q.gif
Organic Production and Food Quality: A Down to Earth Analysis

Effects of Organic Production on Food Quality is the first comprehensive book on how organic production methods influence the safety and quality of foods, based on an unbiased assessment of the latest scientific findings.  The title is a 'must-have' for everyone working within the food industry.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

The Weekly Mix

Operations Weekly Logo

Written by Snack Food & Wholesale Bakery editors, our Operations Weekly weekly enewsletter provides bakers and snack food manufacturers with up-to-the-minute news, ideas and industry trends.

Sign up today!

STAY CONNECTED

Facebook IconTwitter IconYoutube IconLinkedIn Icon