Life Technologies is set to become part of Thermo Fisher come 2014, but for now, the company is still trying to balancing spiking costs and tepid revenue growth, watching profits slip 8.6% in the first quarter.
Thermo Fisher is in the process of closing its planned $13.6 billion takeover of Life Technologies, but a Life shareholder is suing to block the deal, saying the company is selling itself too cheap in an unfair bidding process.
Life Technologies has found a new software partner for its bench top Ion PGM sequencer, one the jewels of the company crown that Thermo Fisher aims to grab in its $13.6 billion buyout of Life announced last week.
The plodding saga of Life Technologies' sale process has come to a close, and while some might miss all that unnamed-source guesswork, now we have a new question to consider: Did Thermo Fisher overpay for the sequencing giant?
After months of hints and allegations, Thermo Fisher has come out on top in the scrum to acquire Life Technologies, signing a deal to buy the sequencing giant for $13.6 billion.
Life Technologies is fielding buyout offers from a competitor and a group of private equity giants, but that hasn't stopped the company from making acquisitions of its own, now snatching up a Korean distributor of reagents and lab instruments.
Thermo Fisher has snuck into the lead among would-be Life Technologies buyers, but a team of private equity firms is scrambling to get a last-minute bid together for the sequencing giant.
As cancer drug discovery relies more on massive data sets, Life Technologies has served up a pair of new genomics software tools to home in on the genetic underpinning of tumors. And both software products use tech from the genomics powerhouse's buyout of cancer bioinformatics player Compendia Bioscience in October.
Thermo Fisher Scientific has leapt into the lead in the bidding war for Life Technologies, Reuters ' sources say, stepping in with an offer that values the company at about $12 billion.
Life Technologies has been busy ratcheting up its testing market share amid rumors it will be bought out, this week launching DNA analysis products that target cancer gene mutations and forensic study.