Chinese regulators are willing to rubber-stamp Thermo Fisher‘s (NYSE:TMO) $13.6 billion acquisition of Life Technologies (NSDQ:LIFE), as long as Thermo’s willing to make some concessions.
China’s Commerce Ministry asked Thermo to reduce prices for a couple of products, dump its controlling interest in China-based National HyClone (Lanzhou) Bio-engineering and sell its gene modulation and cell culture business units.
Thermo has already agreed to other concessions, selling its HyClone cell culture media and sera as well as the gene modulation and magnetic beads businesses in order to appease European regulators. GE Healthcare (NYSE:GE) picked up those units in a deal worth about $1.06 billion.
Thermo shares got a small boost today, trading 0.3% higher to $115.85 as of about 1:10 p.m. Life Tech shares were flat at $75.94.