Laboratory equipment maker Thermo Fisher Scientific Inc (TMO.N) said it would purchase Swedish diagnostics company Phadia for $3.5 billion to expand its portfolio of allergy and autoimmune disease tests. Thermo said the deal would add 26 to 30 cents a share to its 2012 earnings. That would amount to a roughly 6 percent boost to analysts' average profit forecast of $4.68 a share, according to Thomson Reuters I/B/E/S. Thermo shares rose 3.6 percent in midday trading Thursday. "It's a decent deal for them," said Peter McDonald, an analyst at Auriga USA. "It fits well with their specialty diagnostics business, it leverages some of their infrastructure and it will probably do well."
Thermo Fisher Scientific Inc. (Thermo Fisher) is engaged in serving science. Shares of TMO traded higher by 3.76% or $2.36/share to $65.1. In the past year, the shares have traded as low as $41.74 and as high as $63.29. On average, 3034550 shares of TMO exchange hands on a given day and today's volume is recorded at 2982809.
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