Thermo Fisher Scientific Inc has today announced it’s intention to acquire FEI. The Board’s of both companies have reached agreement on the deal and it is hoped that FEI’s shareholders will approve the deal such that the acquisition can complete early in 2017.
The acquisition will be at $107.50 per share in cash, valuing FEI at $4.2 billion. FEI designs, manufactures and supports high-performance electron microscopy workflows that provide images and information at micro-, nano- and picometer scales. Through its industry-leading offering, FEI enables customers across life sciences and materials science markets to make breakthrough discoveries and increase productivity. Based in Hillsboro, Oregon, FEI has more than 3,000 employees worldwide and maintains R&D, sales and manufacturing operations primarily in Europe and the U.S. The business, which had 2015 revenues of $930 million, will become part of Thermo Fisher’s Analytical Instruments Segment.
President and CEO of Thermo Fisher, Marc Casper, described the deal as adding value for shareholders and customers. He added, “In life sciences, there is growing adoption of electron microscopy to study the structure of proteins. The technologies we gain with FEI will complement our mass spectrometry leadership, putting Thermo Fisher in the best position to capitalize on this important trend. As the unrivaled leader in life sciences, we will also be able to leverage our global scale and commercial reach to extend the use of FEI’s products within our large biopharma customer base. Finally, the transaction will be immediately accretive to our earnings and will create value for our shareholders through cost and revenue synergies.”
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