Monday, April 15, 2013

Good luck to chemists working for Thermo Fisher and Life Technologies

From the New York Times: 
The scientific equipment maker Thermo Fisher agreed on Monday to buy a rival, Life Technologies Corporation, for $13.6 billion. 
The deal will help the company expand its market share in the production of genetic sequencing machines, a fast-growing area used by scientists and drug companies to create specialized medicines for patients. 
Thermo Fisher Scientific, based in Waltham, Mass., is offering shareholders $76 for each of their shares in Life Technologies, 12 percent above the company’s closing stock price on Friday. The company said it would also assume about $2.2 billion in debt. Early this year, Life Technologies announced that it was undertaking a strategic review of its operations.
Mergers and acquistions activity is always good for the investment bankers, rarely good for the bench scientists. Good luck, everyone.

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