Helix Investment Research
Long only, special situations, contrarian, growth

Illumina: Thermo Fisher-Life Deal Unlikely To Threaten Its Market-Leading Position

On April 15, Life Technologies (NASDAQ:LIFE) ended its strategic review, which culminated in a sale of the company to Thermo Fisher Scientific (NYSE:TMO). At $76 per share (in cash), the takeover represents a 12% premium to Life's close on April 12, and a premium of over 30% relative to where the company was trading prior to confirming that it was in the process of conducting a strategic review. From the perspective of Life Technologies, the price seems fair; the $76 offer represents an all-time high for Life, and at the company's current trading price of just over $73, shares have returned nearly 50% so far in 2013. Few analysts or existing Life investors have expressed opposition...

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