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Thermo Fisher Completes Lancaster Lab Sale, Extends Dionex Offer

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Thermo Fisher Scientific has completed the sale of Lancaster Laboratories and extended its tender offer for Dionex, the company separately announced after the close of the market on Monday.

The sale of Lancaster to Eurofins Scientific for $200 million was announced in February. Earlier on Monday, Quest Diagnostics said it had completed its purchase of Athena Diagnostics from Thermo Fisher for $740 million.

Lancaster, based in Lancaser, Pa., provides contract testing services to pharmaceutical, biopharmaceutical, and environmental customers. In 2010 it recorded $115 million in revenues and has about 1,100 employees in the US and Ireland. Thermo Fisher did not say if all those employees would join Eurofins.

Lancaster had been part of Thermo Fisher's biopharma services business within the Laboratory Products and Services segment.

The sale of both Lancaster and Athena comes as Thermo Fisher closes in on its $2.1 billion purchase of Dionex. On Monday, the company also announced that it had extended its offer for the chromatography firm to May 13, when it will expire at 7 p.m. EDT.

In February, Thermo Fisher had extended the offer to April 7.

The deal cleared regulatory hurdles in the US, and Thermo Fisher is currently seeking clearance under antitrust laws in other jurisdictions, it said. It applied to the European Commission in February, and on Monday the EC accepted the company's merger filing.

The EC has 25 business days, or until May 13, to review the deal. Thermo Fisher said it expects the acquisition to close in the second quarter.

As of April 1, more than 7.7 million shares of Dionex's common stock, or about 44 percent of all outstanding shares, had been tendered into and not withdrawn from the offer, Thermo Fisher said.

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