NEW YORK (GenomeWeb News) - Thermo Electron said yesterday that the US Federal Trade Commission has approved its $10.6 billion merger with Fisher Scientific International.
Thermo said the FTC has approved a consent order requiring the divestiture of Fisher's $17 million Genevac business and that it has granted the companies "early termination" of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.
Fisher announced its plan to divest a product line in August, but did not disclose which of its subsidiaries would be affected.
Thermo said that no further regulatory review is required in the US to close the merger.
In Europe, the deadline for the European Commission to rule on the merger has been extended to Nov. 9. Thermo said that the planned divestiture of the Genevac business should “resolve any issues raised by the European Commission regarding the merger.”
Assuming the EC clears the transaction on Nov. 9, Thermo and Fisher plan to close the merger on that date.
Genevac is a vacuum pump manufacturer founded in 1990. Apogent Technologies acquired Genevac in 2000, and Apogent then merged with Fisher Scientific in 2004.
According to its website, Genevac employs around 85 people, and most are based at the company’s manufacturing, R&D, and marketing headquarters in Ipswich, UK.
Genevac also has a US subsidiary based in Valley Cottage, NY.