|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.
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