Thermo Fisher Scientific completes acquisition of FEI Company

21-Sep-2016 - USA

Thermo Fisher Scientific Inc. announced that it has completed its acquisition of FEI Company, Inc. a manufacturer of 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 income 1 benefit from revenue-related synergies. Thermo Fisher continues to expect the transaction to be accretive to adjusted earnings per share 1 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.

https://www.chemeurope.com/en/news/159803/thermo-fisher-scientific-completes-acquisition-of-fei-company.html