Thermo Fisher Scientific to Buy FEI for $4.2 Billion
May 27 2016 - 08:20AM
Dow Jones News
Lab-equipment company Thermo Fisher Scientific Inc. on Friday
said it reached a deal to acquire microscope-technology maker FEI
Co. for $4.2 billion in cash.
The purchase price, at $107.50 a share, represents a 14% premium
to FEI's closing price on Thursday. The maker of high-end electron
microscopes will join Thermo Fisher's analytical instruments
segment.
"In life sciences, there is growing adoption of electron
microscopy to study the structure of proteins," said Thermo Fisher
Chief Executive Marc Casper. "The technologies we gain with FEI
will complement our mass spectrometry leadership," which he said
will allow Thermo Fisher to benefit from the trend.
FEI, Hillsboro, Ore., has more than 3,000 employees world-wide
with operations primarily in Europe and the U.S. Mr. Casper said
the business, which posted $930 million in revenue last year, will
immediately add to Thermo Fisher's earnings.
The deal is expected to close by early 2017 and add 30 cents a
share to earnings in the first year.
Thermo Fisher in March completed its acquisition of Affymetrix
Inc. for $1.3 billion, following the genetics firm's rejection
earlier of a higher rival bid submitted by former executives of the
company.
Shares of Thermo Fisher were inactive premarket at $151.20,
while shares of FEI, which have added 20% over the past three
months, were on hold.
Write to Anne Steele at Anne.Steele@wsj.com
(END) Dow Jones Newswires
May 27, 2016 08:05 ET (12:05 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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