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.
The Waltham, Mass.-based medical giant announced plans to acquire Phadia mid-May, just days after finally closing a $2 billion deal to purchase Sunnyvale, Calif.-based laboratory equipment maker Dionex Corp. (NSDQ:DNEX).
The all-cash acquisition for Phadia, which supplies more than 70 percent of the world’s allergy laboratory tests and 40 percent of autoimmunity tests, will give Thermo Fisher expanded reach in specialty diagnostics.
The offering is expected to close August 15.
*Editor’s note: An article posted yesterday mistakenly reported Thermo Fisher’s offering at $3.6 billion. It has since been corrected.