Thermo Fisher and Life Technologies

Thermo Fisher CEO Marc Casper

The deal: Thermo Fisher snatched up Life Technologies
The price tag: $13.6 billion

Why it matters: The acquisition, announced after months of hints and rumors, created a diagnostics supergiant. Thermo Fisher ($TMO) was already a major player in the lab products space, but it now gains an enormous stake in the DNA sequencing world through its Life ($LIFE) purchase. Thermo Fisher had to unload divisions including its gene modulation, cell culture and magnetic beads segments to GE Healthcare ($GE) in a $1.1 billion deal to satisfy European Commission antitrust concerns. And the acquisition comes with risks--Thermo is on the hook for Life's $2.2 billion in debt. But Thermo Fisher CEO Marc Casper said in a statement that the Life deal "enhances all three elements of our growth strategy: technological innovation, a unique value proposition and expansion in emerging markets." Life CEO Greg Lucier and Ion Torrent (which Life Technologies acquired) CEO Jonathan Rothberg will stay on with the combined company.

For more:
Life Tech accepts Thermo's $13.6B bid
Thermo Fisher closes $13.6B Life Tech acquisition
Thermo nears Life Tech merger with $1.1B sale to GE

Thermo Fisher and Life Technologies