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Thermo Fisher Scientific Inc Bids For Life Technologies Corp; Blackstone Group LP, Carlyle Group LP And Other PE Firms Finalizing Offer-Reuters

Tuesday, 9 Apr 2013 09:52pm EDT 

Reuters reported that Thermo Fisher Scientific Inc made a binding offer for Life Technologies Corp on Tuesday as private equity firms raced to finalize a consortium to take the genetic testing equipment maker private. Life Tech, with a current market value of more than $11 billion, has become an attractive target due to its strength in advanced diagnostics and gene sequencing and if Thermo Fisher were to prevail, the deal would make it a major player in the genetic sequencing market. Thermo Fisher met a bid deadline on Tuesday but private equity firms working on a joint bid missed it and were working late into the evening to secure the equity required to support an offer, the people said. Blackstone Group LP, Carlyle Group LP and Singapore's state investor Temasek Holdings were in talks with KKR & Co LP about securing the required equity and finalizing a buyout consortium. Life Technologies would likely accept an offer past the bid deadline to keep the process competitive. 

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