Thermo Fisher Scientific Inc said it would sell three of its businesses to General Electric Co's healthcare unit for $1.06 billion, fulfilling a requirement for European antitrust approval to purchase Life Technologies Corp.The European Union cleared in November Thermo Fisher's $13.6 billion acquisition of Life Technologies, which will make it one of the top two genetic testing companies."The timing of this sale is likely to be a positive surprise for many investors...particularly as it is one of the last pieces of the puzzle for the Life (Technologies) transaction...," ISI Group analyst Ross Muken wrote in a note.Thermo Fisher said its cell culture, gene modulation and magnetic beads businesses, expected to have combined revenue of about $250 million in 2013, will become part of GE Healthcare's life sciences business.
Life Technologies Corporation (Life Technologies) is a global life sciences company. Shares of LIFE traded higher by 0.03% or $0.02/share to $75.84. In the past year, the shares have traded as low as $50.30 and as high as $75.84. On average, 1157250 shares of LIFE exchange hands on a given day and today's volume is recorded at 805028.
Thermo Fisher Scientific Inc. (Thermo Fisher) is engaged in serving science. Shares of TMO traded higher by 0.07% or $0.08/share to $110.13. 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 994733.
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