04 Feb 2014, BioSpectrum Bureau , BioSpectrum
Singapore: Thermo Fisher Scientific has completed acquisition of Life Technologies Corporation for $76.13 in cash per fully diluted common share, or approximately $13.6 billion, plus the assumption of $1.5 billion in net debt. The completion of the transaction follows the receipt of all required regulatory approvals.
"We are pleased to announce that this transaction is now complete, and excited about our opportunity to create unrivaled leadership in serving research, life sciences, specialty diagnostics and applied markets," said Mr Marc N Casper, president and chief executive officer of Thermo Fisher Scientific.
"Our combined offering provides cutting-edge technologies, such as genomics and proteomics, to accelerate life sciences research and improve human health. And our complementary strengths in biosciences and bioprocessing will accelerate drug discovery, development and production. With the addition of Life Technologies, we are in an even stronger position to help our customers achieve their goals for innovation and productivity," he added.
With the acquisition of Life Technologies, Thermo Fisher has established a new reporting segment, called Life Sciences Solutions. Mr Mark Stevenson, who served as chief operating officer of Life Technologies, has been named an executive vice president and president of Life Sciences Solutions, reporting directly to Mr Casper.