Genetic testing equipment maker Life Technologies Corp has agreed to a $13.6 billion cash takeover by Thermo Fisher Scientific Inc, in one of the year's biggest corporate takeovers.The acquisition values Life Tech at $76 per share and would catapult Thermo Fisher into the hot field of genetic sequencing where researchers, drugmakers and doctors are uncovering the genetic factors underpinning diseases to better tailor treatments to patients.The offer represents a premium of about 12 percent to Life Tech's Friday close.Life Tech shares were up 8 percent at $73.40 before the bell. They closed at $68 on Friday on the Nasdaq. Thermo Fisher shares were up 1 percent.
Life Technologies Corporation (Life Technologies) is a global life sciences company. Shares of LIFE remained unchanged at $68.00. In the past year, the shares have traded as low as $39.73 and as high as $68.23. On average, 2114890 shares of LIFE exchange hands on a given day and today's volume is recorded at 1230094.
Thermo Fisher Scientific Inc. (Thermo Fisher) is engaged in serving science. Shares of TMO remained unchanged at $79.59. In the past year, the shares have traded as low as $48.14 and as high as $81.96. On average, 1930280 shares of TMO exchange hands on a given day and today's volume is recorded at 163350.
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