Thermo Fisher Scientific agrees Life Technologies takeover

Thermo Fisher Scientific and Life Technologies have agreed a merger deal that will create one of the largest organisations in the life science industry.

The deal will see Thermo Fisher acquire Life Technologies for approximately $13.6 billion (8.87 billion pounds), or  $76 in cash per fully diluted common share, plus the assumption of net debt totalling around $2.2 billion at close.

Life's extensive offering of consumables for genomics, and molecular and cell biology will complement Thermo Fisher's portfolio of analytical technologies and specialty diagnostics, with the combined global capabilities of the company delivering value for shareholders.

It is expected that Mark Stevenson, president and chief operating officer of Life Technologies, will assume a key leadership role within the new organisation.

Marc Casper, president and chief executive officer of Thermo Fisher Scientific, said: "The acquisition of Life Technologies enhances all three elements of our growth strategy: technological innovation, a unique customer value proposition and expansion in emerging markets."

Thermo Fisher is already one of the world's most prominent life science firms, employing almost 40,000 people worldwide and generating annual revenues of around $13 billion.