Thermo Fisher Scientific Inc on Monday agreed to purchase Life Technologies Corp for $13.6 billion in a deal that would make it one of the top two companies in the hot field of genetic testing.The pact values Life Tech at $76 per share, a 12 percent premium, and is one of the year's biggest corporate takeovers.It would catapult Thermo, the world's largest maker of scientific and laboratory equipment, to the forefront of the fledgling field of personalized medicine, where research is uncovering the hereditary underpinnings of diseases to better tailor treatments to patients."Genetic sequencing is an area that will become increasingly important over the years in terms of specialty diagnostics, and Thermo needs to compete in that market because they have a number of products in that area that ultimately could get displaced by sequencing applications," said Macquarie Capital analyst Jonathan Groberg.
Life Technologies Corporation (Life Technologies) is a global life sciences company. Shares of LIFE traded higher by 7.49% or $5.09/share to $73.09. 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 44571800.
Thermo Fisher Scientific Inc. (Thermo Fisher) is engaged in serving science. Shares of TMO fell by 0.72% or $-0.57/share to $79.02. 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 12876722.
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