Thermo Fisher Scientific to Buy Affymetrix in $1.3 Billion Cash Deal
January 08 2016 - 6:58PM
Dow Jones News
By Maria Armental
Thermo Fisher Scientific Inc. will buy Affymetrix Inc. in a
roughly $1.3 billion cash deal that would boost its biogenetic
analysis portfolio, the company said Friday.
Under the terms of the deal, which requires approval by
Affymetrix shareholders, Thermo Fisher is to pay $14 a share in
cash. Affymetrix's shares closed Friday at $9.21.
Thermo Fisher said the deal, which it expects to close by the
end of the second quarter, would add 10 cents a share to adjusted
profit in the first full year of ownership and result in about $70
million in savings by year three.
Santa Clara, Calif.-based Affymetrix, which carried an
accumulated loss of about $500 million as of Sept. 30, has about
$350 million in annual revenue, while Waltham, Mass.-based Thermo
Fisher has about $17 billion in annual revenue, according to
regulatory filings.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
January 08, 2016 18:43 ET (23:43 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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