Thermo Fisher Scientific Inc.NYSE
Thu, Aug. 18, 9:58 AM
- Illumina (ILMN +0.7%) has reportedly received a $30B offer from Thermo Fisher Scientific (TMO -0.9%).
- Illumina, sporting a $25B market cap, is a global leader in molecular diagnostic systems. In Q2 it earned $0.82 a share on revenues of $600M.
- Large cap ($61B) Thermo is a global leader in clinical diagnostics that generates ~$17B a year in sales.
Wed, Jun. 1, 1:18 PM
- Myriad Genetics (MYGN +1.4%) acquires Koln, Germany-based Sividon Diagnostics for €35M in upfront cash and potentially up to an additional €15M in performance-based milestones.
- Sividon, spun out of Siemens Healthcare Diagnostics in 2010, markets an RNA expression test called EndoPredict that evaluates 12 genes to assess the aggressiveness of breast cancer on a molecular level. It is currently CE Mark'd on the Siemens Versant instrument, but Myriad intends to transition it to Thermo Fisher's (TMO +0.5%) QuantStudio platform.
Fri, May 27, 7:17 AM
- Thermo Fisher Scientific (NYSE:TMO) announces it acquired FEI Company (NASDAQ:FEIC) in a deal valued at $4.2B.
- The purchase price of $107.50 per FEI share is a 14% premium over the closing price yesterday.
- FEI designs and manufactures electron microscopy workflow solutions.
- The transaction is expected to close by early 2017.
Tue, Mar. 22, 5:29 PM
- Newly-formed Origin Technologies is now offering $17/share in cash for Affymetrix (NASDAQ:AFFX), up from a prior $16.10/share. Origin has also upped the size of its reverse termination fee to $100M, and reiterated its willingness to "include a 'hell or high water' provision in the merger agreement obligating itself to take any and all actions required to obtain regulatory approvals, in the event they are required."
- The new bid comes shortly after Affymetrix said it's standing by a $14/share deal to sell to Thermo Fisher (NYSE:TMO), while declaring Origin to be a "shell entity with no assets of which Affymetrix is aware."
- AFFX +4.4% after hours to $15.00.
- Update: The company's board determined that Origin's new offer could be reasonably expected to lead to a Superior Proposal as defined in its merger agreement with Thermo Fisher. Accordingly, the Special Meeting of Stockholders scheduled for tomorrow will be convened and immediately adjourned without a vote. The meeting will reconvene on March 31 in order for the company to thoroughly evaluate Origin's proposal.
- Update: The company will engage in discussions with Origin regarding its $17 per share bid. Key deliverables: draft of merger agreement and other transaction documents, copies of funding and financing documents and details on Origin's plans to obtain regulatory approvals. The board continues to recommend that stockholders back the merger with Thermo Fisher since there are no assurances of a positive outcome from discussions with Origin.
Mon, Mar. 21, 2:24 AM
- U.S. gene-testing company Affymetrix (NASDAQ:AFFX) has rejected a $1.5B bid by Origin Technologies, standing by a previous $1.3B merger deal with Thermo Fisher (NYSE:TMO).
- "Origin appears to be a newly-formed shell entity with no assets of which Affymetrix is aware, and whose sole source of funding for the proposed transaction...is in potential debt commitments," the company said in the statement.
- Origin, made up of a group of former Affymetrix executives, made its offer on Friday.
- Shares are down 7% premarket on increased volume.
- Previously: Former Affymetrix execs seek to break up Thermo Fisher deal with own bid (Mar. 18 2016)
Fri, Mar. 18, 5:11 PM
- Affymetrix (NASDAQ:AFFX) vaulted to eight-year highs in today's trade after receiving a rival bid for its proposed $1.3B sale to Thermo Fisher (NYSE:TMO).
- Origin Technologies, a newly created company led by a group of former AFFX execs, offered $16.10/share in cash, topping TMO's $14 offer that AFFX accepted on Jan. 8.
- The $16.10 offer represents a 14.8% premium to AFFX's closing price yesterday.
- Origin President Wei Zhou, a former senior VP at AFFX, also started up genomics company Centrillion Technology in 2009, and says Origin would have the option of combining with Centrillion after acquiring AFFX.
- AFFX closed +14%, TMO ended +1.2%.
Fri, Jan. 8, 5:56 PM
- Thermo Fisher (NYSE:TMO) is acquiring gene/cell analysis product maker Affymetrix (NASDAQ:AFFX) for $1.3B ($14/share) in cash. The price represents a 52% premium to Affymetrix's Friday close.
- The deal is expected to close by the end of Q2. Thermo Fisher plans to finance the purchase using cash on hand and short-term debt, and forecasts it will boost EPS by $0.10 in the first year after closing. $70M/year in synergies are expected within three years.
- Thermo Fisher CEO Marc N. Casper: "The acquisition of Affymetrix will strengthen our leadership in biosciences and create new market opportunities for us in genetic analysis ... In biosciences, the company's antibody portfolio will significantly expand our offering in the fast-growing flow cytometry market, and customers will have greater access to these products through our global scale and commercial reach. In genetic analysis, Affymetrix's technologies are highly complementary and present new opportunities for us in targeted clinical and applied markets.
- Affymetrix is halted.
- Update (6:44PM ET): Affymetrix is up 49.8% to $13.80 after coming off a halt.
Jun. 25, 2015, 1:00 PM| Jun. 25, 2015, 1:00 PM
Jun. 24, 2015, 3:05 PM
- After following markets lower much of the day, lab test equipment makers Agilent (A +0.9%) and Thermo Fisher (TMO +0.9%) have moved higher over the last hour of trading. Vague M&A rumors involving the companies appear to be the trigger.
- Agilent's 2014 spinoff of its electronic test/measurement equipment ops (now known as Keysight Technologies) has heightened speculation what's left of the company could be acquired.
May 13, 2015, 7:44 AM
- Pall Corp. (NYSE:PLL) has agreed to be acquired by Danaher (NYSE:DHR) for $127.20 per share in cash, or $13.8B including assumed debt and net of acquired cash.
- The offer represents approximately a 28% premium to Pall's closing price of $99.31 on Monday, the last trading day prior to speculation about a possible transaction.
- The deal is expected to close in 2015.
- PLL +4.8%; DHR +7% premarket
- Previously: Jefferies: Danaher has upper hand to acquire Pall (May. 12 2015)
- Previously: WSJ: Danaher, Thermo Fisher compete to acquire Pall Corp. (May. 11 2015)
May 12, 2015, 8:43 AM
- Although it views both companies as logical buyers, Jefferies believes Danaher (NYSE:DHR) has the upper hand over Thermo Fisher (NYSE:TMO) for a Pall Corp. (NYSE:PLL) takeover given its greater relative balance sheet capacity.
- Yesterday, the WSJ reported Pall was in the late stages of an auction that could value the company at $13B or more.
- PLL +20.8%; DHR -0.4% premarket
May 11, 2015, 6:23 PM
- Pall Corp. (NYSE:PLL) +7.1% AH after WSJ reports it is in the late stages of an auction that could value the company at well north of $10B, with potential buyers Danaher (NYSE:DHR) and Thermo Fisher Scientific (NYSE:TMO) said to be vying for a successful deal.
- Pall's market value at today’s close is $10.6B; given prices typically paid in takeovers, the report says a deal for the maker of water filtration and purification systems could be valued at ~$13B or more.
May 29, 2014, 2:06 PM
Jan. 16, 2014, 8:45 AM
- China's Commerce Ministry has conditionally approved Thermo Fisher Scientific (TMO) $13.6B acquisition of Life Technologies (LIFE).
- Thermo Fisher will have to reduce the prices of two types of its products it sells in the country, and divest its cell culture and gene adjustment businesses. Thermo Fisher will also have to sell its 51% holding in China's Lanzhou National Hyclone Bio-engineering.
Jan. 6, 2014, 7:24 AM
- GE Healthcare (GE) has agreed to acquire various businesses from Thermo Fisher (TMO) for $1.06B in a deal that will allow the conglomerate to expand its offering of technologies for cell biology research and cell therapy, and for the manufacture of medicines and vaccines.
- The operations that GE is buying are Thermo's HyClone cell culture, gene modulation and magnetic beads businesses.
- Thermo Fisher is selling the operations in order to assuage EU antitrust concerns about the company's acquisition of Life Technologies (LIFE). (PR)
Nov. 26, 2013, 7:14 AM
- EU competition regulators have approved Thermo Fisher Scientific's (TMO) $13.6B acquisition of of Life Technologies (LIFE) after the U.S. company agreed to sell three subsidiaries to assuage antitrust fears.
- Themo will sell units that produce and supply media andsera for cell culture, gene silencing products, and polymer-based magnetic beads. (PR)