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Thermo Fisher acquiring Affymetrix

January 9, 2016 2:22 AM UTC

Life sciences supplier Thermo Fisher Scientific Inc. (NYSE:TMO) said after market close Friday it will acquire tools company Affymetrix Inc. (NASDAQ:AFFX) for $14 per share, or about $1.3 billion in cash. The price represents a 52% premium over Affymetrix's Friday close of $9.21.

Thermo Fisher said Affymetrix's cellular and genetic analysis tools will strengthen its offerings in clinical and applied markets. Thermo will fund the deal with cash on hand and short-term debt. It expects the deal to be immediately accretive. ...