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Tuesday, November 26, 2013

EU clears $13.6 billion Thermo Fisher, Life Tech deal with conditions, (NASDAQ: LIFE)

European Union antitrust regulators cleared on Tuesday Thermo Fisher Scientific Inc's proposed $13.6 billion takeover of Life Technologies Corp, after the U.S. company agreed to sell three units to ease competition concerns. The deal would make Thermo, the world's largest maker of scientific and laboratory equipment, one of the top two companies in genetic testing.The European Commission said in a statement that Thermo Fisher will divest businesses producing and supplying media and sera for cell culture, gene silencing products and polymer-based magnetic beads.Media and sera are liquids used to supply nutrients to human, animal, insect and plant cells growing in vitro.

Life Technologies Corporation (Life Technologies) is a global life sciences company. Shares of LIFE traded higher by 0.01% or $0.01/share to $75.69. In the past year, the shares have traded as low as $47.84 and as high as $75.75. On average, 1273650 shares of LIFE exchange hands on a given day and today's volume is recorded at 1330622.