Thermo Fisher Scientific to buy Life Technologies for $13.6 billion, plus debt

Thermo Fisher Scientific (NYSE: TMO), a leader in serving science, has signed a definitive agreement to acquire fellow USA-based Life Technologies (Nasdaq: LIFE) for $76.00 per share in cash, or around $13.6 billion, plus the assumption of net debt at close ($2.2 billion as of year-end 2012). The news came just after Life announced that it has bought South Korea’s KDR Biotech (The Pharma Letter April 15).

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,” said Marc Casper, president and chief executive of Thermo Fisher, adding: “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.