Key Developments: Thermo Fisher Scientific Inc (TMO)
87.22USD
24 May 2013
$1.53 (+1.79%)
$85.69
$85.12
$87.25
$84.52
2,156,355
2,556,711
$88.08
$48.14
Latest Key Developments (Source: Significant Developments)
Opengate Capital Group LLC Files Lawsuit Against Thermo Fisher Scientific Inc-Reuters
Reuters reported that Opengate Capital Group LLC filed a lawsuit alleging Thermo Fisher Scientific Inc sold it a Mexican plant last year without revealing that a drug cartel was operating there. The private equity firm claimed that the Reynosa, Mexico-based manufacturing facility, which it acquired as part of a larger deal from Thermo Fisher, had been regularly infiltrated by gangs from the Gulf Cartel since at least 2011, according to a copy of the complaint. The lawsuit, filed in federal court in Los Angeles, alleged that Thermo Fisher had acted in bad faith by withholding documents and directing employees to conceal the drug gang's presence at the facility. Full Article
Thermo Fisher Scientific Inc Raises Low End Of Prior FY 2013 Revenue Guidance; Lowers FY 2013 EPS Guidance
Thermo Fisher Scientific Inc updated fiscal 2013 guidance and expects revenue from $12.80 to $13.00 billion to a new range of $12.84 to $13.00 billion, resulting in 3% to 4% growth year over year. The Company also updated fiscal 2013 adjusted earnings per share (EPS) guidance from $5.32 to $5.46 to a new range of $5.27 to $5.39, reflecting the suspension of share buybacks and tightening of its revenue range. The 2013 guidance does not include the acquisition of Life Technologies or the impact of related financing activities. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $12.9 billion and EPS of $5.40 for fiscal 2013. Full Article
Thermo Fisher Scientific Inc To Buy Life Technologies Corp-Reuters
Reuters reported that Thermo Fisher Scientific Inc is nearing a deal to buy Life Technologies Corp for close to $13 billion. The final price being negotiated is in the region of $75 per share, valuing Life Technologies at close to $13 billion. A deal at $75 per share would represent a premium of 36% on Life Technologies' closing share price on January 17, 2013 the day before it announced it had mandated Deutsche Bank AG and Moelis & Co to assist in a strategic review. Technologies, Thermo Fisher, Sigma-Aldrich and the private equity consortium did not respond to requests for comment. Full Article
Thermo Fisher Scientific Inc Bids For Life Technologies Corp; Blackstone Group LP, Carlyle Group LP And Other PE Firms Finalizing Offer-Reuters
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. Full Article
Thermo Fisher Scientific Inc Declares Quarterly Dividend
Thermo Fisher Scientific Inc announced that its board of directors has declared a quarterly cash dividend of $0.15 per share. The dividend will be paid on April 15, 2013, to shareholders of record as of March 15, 2013. Full Article
Thermo Fisher Scientific Inc Issues FY 2013 Guidance In Line With Analysts' Estimates
Thermo Fisher Scientific Inc announced that it is initiating adjusted EPS and revenue guidance for fiscal 2013. The Company expects to achieve adjusted EPS in the range of $5.32-$5.46 and revenue in the range of $12.80-$13.00 billion for fiscal 2013. The 2013 guidance does not include any future acquisitions or divestitures and is based on current foreign exchange rates. In addition, the adjusted EPS estimate excludes amortization expense for acquisition-related intangible assets and certain other items detailed later in this press release under the heading "Use of Non-GAAP Financial Measures. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $12.94 billion and EPS of $5.43 for fiscal 2013. Full Article
Thermo Fisher Scientific Inc Reaffirms FY 2012 EPS Guidance-Conference Call
Thermo Fisher Scientific Inc announced that for fiscal 2012, it expects guidance of 16%, 17% earnings growth. The Company reported EPS of $4.16 in fiscal 2011. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $4.85 for fiscal 2012. Full Article
Thermo Fisher Scientific Inc Opens New Manufacturing Facility In China
Thermo Fisher Scientific Inc announced the official opening of its new facility in Suzhou, China, for the manufacturing of life sciences consumables and equipment. The facility expands the Company’s global manufacturing footprint and establishes local production capabilities to meet increased customer demand in China and other Asia-Pacific markets. Full Article
Thermo Fisher Scientific Inc Authorizes Quarterly Cash Dividend; Authorizes Shares Repurchase
Thermo Fisher Scientific Inc announced that its Board of Directors has authorized an increase of its quarterly cash dividend from $0.13 to $0.15 per common share, payable on January 15, 2013, to shareholders of record as of December 17, 2012. The Company also announced that the board has authorized the repurchase of an additional $1 billion of shares of the Company’s common stock in the open market or in negotiated transactions. The new repurchase authorization is effective January 1, 2013. As of October 1, the Company had $350 million remaining under its existing share repurchase authorization, which expires December 31, 2012. Full Article
Thermo Fisher Scientific Inc Reaffirms FY 2012 Revenue Guidance-Conference Call
Thermo Fisher Scientific Inc announced that guidance for fiscal 2012 being at about 7% growth at the top line between $12.32 billion and $12.40 billion in terms of guidance for fiscal 2012. Full Article
Roche, Sigma teamed up for failed Life Technologies bid: sources
NEW YORK - Roche Holding AG teamed up with Sigma-Aldrich Corp to make an unsuccessful bid for Life Technologies Corp earlier this year, people familiar with the matter said.
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