Thermo Fisher announced today that it is acquiring the Life Technologies for $13.6 billion. Life Technologies had been looking to be acquired since the beginning of the year. And the acquisition news initially came out yesterday from a WSJ report. Confirming the report, Thermo Fisher announced the acquisition news early this morning.
In a press release announcing the acquisition of Life Technologies, Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific said
We are extremely excited about this transaction because it creates the ultimate partner for our customers and significant value for our shareholders. 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 EPS.
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.
Gregory T. Lucier, chairman and chief executive officer of Life Technologies, said
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.