Thermo Fisher Applies to Acquire Life Technologies
According to a latest report, the firm Thermo Fisher Scientific is looking forward to acquire Life Technologies Corp and for this reason it has applied to the local regulator. Thermo Fisher Scientific wants to acquire Life Technologies Corp as part of a US$13.6 billion global merger.
Both the companies produce products related to scientific applications. Also according to the commerce commission, these companies also have certain similar characteristics regarding cell culture, transplant diagnostics, protein and molecular biology.
The sources reveal that the regulator has to be satisfied beforehand, about the fact that the merging of these two companies will not reduce the competition in the market.
The regulator said that the major product, in which these two parties overlap, is the production of foetal bovine serum, which is mainly used in cell cultures to stimulate cell reproduction.
The regulator also said, "Foetal bovine serum is used by scientific and pharmaceutical customers for research, and the manufacture of human and veterinary vaccines and drugs".
According to the New York Stock Exchange, the company Thermo Fisher made its bid for California-based Life Technologies in the month of April. It was also sighted that the targeted company's shareholders have already approved the required deal in the month of August.
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