Genetic testing equipment maker Life Technologies Corp has accepted a $13.6 billion cash takeover proposal from scientific and laboratory instruments company Thermo Fisher Scientific Inc in one of the year's biggest corporate takeovers.The deal, announced on Monday, 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 hereditary factors underpinning diseases to better tailor treatments to patients.The offer represents a premium of about 12 percent to Life Tech's market close on Friday.Life Tech shares were up 7.7 percent at $73.24 in morning trading, while Thermo Fisher rose 3.4 percent to $82.30.
Life Technologies Corporation (Life Technologies) is a global life sciences company. Shares of LIFE traded higher by 7.51% or $5.11/share to $73.11. 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 36521320.
Thermo Fisher Scientific Inc. (Thermo Fisher) is engaged in serving science. Shares of TMO traded higher by 0.83% or $0.66/share to $80.25. In the past year, the shares have traded as low as $48.14 and as high as $81.96. On average, 1941350 shares of TMO exchange hands on a given day and today's volume is recorded at 10081435.
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