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Thermo Fisher Completes Life Tech Acquisition; Unveils New Business Segments

NEW YORK (GenomeWeb News) – Thermo Fisher Scientific said after the close of the market Monday that it had completed the acquisition of Life Technologies for approximately $13.6 billion plus the assumption of $1.5 billion in net debt.

Completion of the deal comes less than a week after the US Federal Trade Commission cleared the deal with the condition that Thermo Fisher sell certain assets related to siRNA reagents, cell culture media, and cell culture sera to GE Healthcare.

The firms had signed the acquisition agreement last April. Thermo Fisher paid $76.13 in cash for each share of fully diluted common stock of Life Tech.

Thermo Fisher also said that effective Jan. 1, 2014, the firm would begin reporting financial performance for four new business segments: Life Sciences Solutions; Laboratory Products and Services; Analytical Instruments; and Specialty Diagnostics.

Life Tech COO Mark Stevenson was named EVP and president of the Life Sciences Solutions business segment. Former Life Tech Chairman and CEO Greg Lucier is not joining the combined company. This past fall he was named chairman of the Sanford-Burnham Medical Research Institute.

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