WALTHAM, Mass.--(BUSINESS WIRE)--Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, today announced that it has completed its acquisition of FEI Company, Inc. (NASDAQ: FEIC), the leader in high-performance electron microscopy, for $107.50 per share in cash, or a total purchase price of approximately $4.2 billion. The completion of the transaction follows the receipt of all required regulatory approvals. The business will become part of Thermo Fisher’s Analytical Instruments Segment.
“We are pleased to complete this transaction and officially welcome our new colleagues from FEI to Thermo Fisher,” said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. “With FEI’s leading electron microscopy platform, we’re now in an even stronger position to help our life sciences customers accelerate advancements in structural biology. FEI’s products also create new opportunities for us to serve customers in materials science markets that increasingly rely on nanotechnologies. FEI is an outstanding strategic fit with our Analytical Instruments business and we will create significant value for our customers by leveraging our global scale and commercial reach to extend the use of these technologies. For our shareholders, we expect to deliver immediate earnings accretion and synergies.”
As previously communicated, the company expects to realize total synergies of approximately $80 million by year three following the close, consisting of approximately $55 million of cost synergies and approximately $25 million of adjusted operating income1 benefit from revenue-related synergies. Thermo Fisher continues to expect the transaction to be accretive to adjusted earnings per share1 by $0.30 in the first full year after close.
Thermo Fisher will update its 2016 annual guidance to reflect the addition of FEI during its third quarter earnings call on October 27, 2016.
As a result of the completion of this transaction, FEI stock will cease trading and will no longer be listed on The NASDAQ Global Select Market.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc. (NYSE: TMO) is the world leader in serving science, with revenues of $17 billion and more than 50,000 employees in 50 countries. Our mission is to enable our customers to make the world healthier, cleaner and safer. We help our customers accelerate life sciences research, solve complex analytical challenges, improve patient diagnostics and increase laboratory productivity. Through our premier brands – Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific and Unity Lab Services – we offer an unmatched combination of innovative technologies, purchasing convenience and comprehensive support. For more information, please visit www.thermofisher.com.
