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MASSDEVICE ON CALL — The European Commission in Brussels cleared Thermo Fisher Scientific Inc.’s (NYSE:TMO) $3.5 billion cash buyout of Swedish blood test maker Phadia, finding that "the transaction would not raise competition concerns."
"After investigating the proposed transaction, the Commission determined that the parties are not close competitors and are currently primarily constrained by other competitors, which would continue to constrain the merged entity," according to a press release.
Thermo Fisher Scientific Inc. (NYSE:TMO) closed its highly anticipated $3.6 billion acquisition of Swedish blood test maker Phadia.
The all-cash deal, which is closed yesterday, gives Thermo Fisher expanded reach in specialty diagnostics. Phadia supplies more than 70 percent of the world’s allergy laboratory tests and 40 percent of autoimmunity tests.
Thermo Fisher Scientific Inc. (NYSE:TMO) unveiled that its upcoming offering meant to help fund its $3.5 billion acquisition of Swedish blood test maker Phadia at will be priced at $2.2 billion.
The offering includes notes $1 billion aggregate of 2.25 percent senior notes due 2016 at an issue price of 99.826 percent of the principal amount, and $1.1 billion aggregate of 3.6 percent senior notes due 2021 at an issue price of 99.809 percent of the principal amount.
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Updated: 08/10/2011 12:45 p.m.
Thermo Fisher Scientific Inc. (NYSE:TMO) just announced plans to open an offering of senior notes to fund its upcoming $3.5 billion buyout of Swedish blood test maker Phadia. *
The offering will include notes due 2016 and notes due 2022, but the public offering price hasn’t yet been announced.
Thermo Fisher Scientific Inc.’s (NYSE:TMO) spending spree continued this week as the company announced plans to drop $3.5 billion in cash for Phadia, a Swedish blood test maker.
The all-cash deal, which is expect to close in the fourth quarter of 2011, gives Thermo Fisher expanded reach in specialty diagnostics. Phadia supplies more than 70 percent of the world’s allergy laboratory tests and 40 percent of autoimmunity tests, according to a prepared release.
