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Monday, January 6, 2014

Thermo Fisher sells cell culture, other businesses to GE, (NYSE: TMO)

Scientific and laboratory equipment maker Thermo Fisher Scientific Inc said it would sell its cell culture, gene modulation and magnetic beads businesses to GE Healthcare, a unit of General Electric Co, for about $1.06 billion. The businesses, expected to have combined revenue of about $250 million in 2013, will become part of GE Healthcare's life sciences division, Thermo Fisher said in a statement.

Thermo Fisher Scientific Inc. (Thermo Fisher) is engaged in serving science. Shares of TMO traded higher by 0.38% or $0.42/share to $110.05. In the past year, the shares have traded as low as $65.08 and as high as $111.44. On average, 1516760 shares of TMO exchange hands on a given day and today's volume is recorded at 1486448.