Thermo Fisher Reportedly Close To Buying UK-Based Diagnostic Firm For $2.3B

Thermo Fisher Reportedly Close To Buying UK-Based Diagnostic Firm For $2.3B
  • Thermo Fisher Scientific Inc TMO is close to acquiring UK-based diagnostic firm Binding Site from private equity fund Nordic Capital.
  • The lab equipment and supplies giant is reportedly paying more than £2 billion ($2.3 billion) for the deal.
  • Binding Site is developing diagnostic products to detect immune-system disorders and caters to clinicians and laboratory professionals. 
  • Also Read: Thermo Fisher Q3 Earnings Beat Street View, With 14% Organic Sales Growth.
  • The agreement could be announced as early as this week, Bloomberg reported citing people familiar with the matter.
  • The deal would mark a revival to dealmaking in Europe, where volumes collapsed this quarter, the report added. 
  • The talks are advanced, but there’s no certainty the deal will go through.
  • Last year, Thermo Fisher acquired PPD Inc, a provider of clinical and research services, for $17.4 billion. In January, it bought PeproTech, a closely held provider of recombinant proteins, for about $1.85 billion cash.
  • Price Action: TMO shares closed at $503.84 on Friday.

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