Thermo Fisher Scientific (NYSE: TMO), the world leader in serving
science, today announced that it has received approval from the European
Commission (EC) for its pending acquisition of Life Technologies
Corporation (NASDAQ: LIFE).
To expedite the approval, Thermo Fisher has committed to divest of its
cell culture (sera and media), gene modulation and magnetic beads
businesses. Combined, these businesses had 2012 revenue of approximately
$225 million.
The acquisition remains subject to additional regulatory approvals,
including the U.S. Federal Trade Commission (FTC). Based on its
discussions with the FTC, Thermo Fisher does not believe any additional
divestures will be required in order to receive U.S. approval. The
company is working with the regulatory agencies to complete the
transaction as soon as possible, and still expects to close in early
2014.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc. (NYSE: TMO) is the world leader in serving
science. Our mission is to enable our customers to make the world
healthier, cleaner and safer. With revenue of $13 billion, we have
39,000 employees and serve customers within pharmaceutical and biotech
companies, hospitals and clinical diagnostic labs, universities,
research institutions and government agencies, as well as in
environmental and process control industries. We create value for our
key stakeholders through three premier brands, Thermo Scientific, Fisher
Scientific and Unity Lab Services, which offer a unique combination of
innovative technologies, convenient purchasing options and a single
solution for laboratory operations management. Our products and services
help our customers solve complex analytical challenges, improve patient
diagnostics and increase laboratory productivity. Visit www.thermofisher.com.
Safe Harbor Statement
The following constitutes a "Safe Harbor" statement under the Private
Securities Litigation Reform Act of 1995: This presentation contains
forward-looking statements that involve a number of risks and
uncertainties. Important factors that could cause actual results to
differ materially from those indicated by forward-looking statements
include risks and uncertainties relating to: the need to develop new
products and adapt to significant technological change; implementation
of strategies for improving growth; general economic conditions
including economic conditions in the countries in which Thermo Fisher
and Life Technologies sell products, and related uncertainties;
dependence on customers' capital spending policies and government
funding policies; the effect of exchange rate fluctuations on
international operations; the effect of healthcare reform legislation;
use and protection of intellectual property; the effect of changes in
governmental regulations; and the effect of laws and regulations
governing government contracts, as well as the possibility that expected
benefits related to the transaction may not materialize as expected; the
transaction not being timely completed, if completed at all; prior to
the completion of the transaction, Life Technologies’ business
experiencing disruptions due to transaction-related uncertainty or other
factors making it more difficult to maintain relationships with
employees, licensees, other business partners or governmental entities;
difficulty retaining certain key employees; and the parties being unable
to successfully implement integration strategies or to achieve expected
synergies and operating efficiencies within the expected time-frames or
at all. Additional important factors that could cause actual results to
differ materially from those indicated by such forward-looking
statements are set forth in Thermo Fisher’s Annual Report on Form 10-K
for the fiscal year ended December 31, 2012, Quarterly Report on Form
10-Q for the quarter ended September 28, 2013 and recent current reports
on form 8-K, which are on file with the SEC and available in the
“Investors” section of Thermo Fisher’s website under the heading “SEC
Filings,” and in Life Technologies’ Annual Report on Form 10-K for the
fiscal year ended December 31, 2012, Quarterly Report on Form 10-Q for
the quarter ended September 30, 2013 and recent current reports on form
8-K, each of which are on file with the SEC and available in the
“Investor Relations” section of Life Technologies’ website under the
heading “SEC Filings”. While Thermo Fisher or Life Technologies may
elect to update forward-looking statements at some point in the future,
each of Thermo Fisher and Life Technologies specifically disclaims any
obligation to do so, even if estimates change and, therefore, you should
not rely on these forward-looking statements as representing either of
Thermo Fisher’s or Life Technologies’ respective views as of any date
subsequent to today.
Copyright Business Wire 2013