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Thermo Fisher Scientific (TMO) to Buy Life Technologies (LIFE) for $13.6 Billion



4/15/2013 7:48:53 AM

Genetic testing equipment maker Life Technologies Corp has agreed to a $13.6 billion cash buyout by Thermo Fisher Scientific Inc, in one of the year's biggest corporate takeovers. The acquisition values Life Tech at $76 per share and would catapult Thermo Fisher into the hot field of genetic sequencing where researchers, drugmakers and doctors are uncovering the genetic factors underpinning diseases to better tailor treatments to patients. The offer represents a premium of about 12 percent to Life Tech's Friday close. Life Tech shares were up 8 percent at $73.40 before the bell. They closed at $68 on Friday on the Nasdaq. Thermo Fisher shares were up 1 percent.

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