The U.S. Federal Trade Commission cleared the way for Thermo Fisher‘s (NYSE:TMO) $13.6 billion acquisition of Life Technologies (NSDQ:LIFE), provided Thermo sells off some assets to GE Healthcare (NYSE:GE).
The FTC said Thermo must divest the resources so that the merger won’t “substantially lessen competition,” according to a press release.
Thermo Fisher must sell its Dharmacon gene modulation business , including an siRNA reagents line, plus its cell culture media and sera business, including the HyClone brand, according to the release.
China’s Commerce Ministry plans to give its blessing to this deal, also after Thermo Fisher makes some concessions.
Like their American counterpart, Chinese regulators asked the company to dump its controlling interest in the HyClone business there and sell its gene modulation and cell culture business units. China also wants Thermo Fisher to reduce its prices on some products.
