Key Developments: Thermo Fisher Scientific Inc (TMO)
86.18USD
18 Jun 2013
$0.63 (+0.74%)
$85.55
$85.79
$86.38
$85.49
2,176,425
2,966,823
$89.50
$49.43
Latest Key Developments (Source: Significant Developments)
Thermo Fisher Scientific Inc Announces Exercise Of Over Allotment Option In Common Stock Offering
Thermo Fisher Scientific Inc. announced that the underwriters of its previously announced public offering of common stock have exercised their option to purchase an additional 3,859,649 shares of its common stock at $85.50 per share. Thermo Fisher previously entered into forward sale agreements with affiliates of each of J.P. Morgan and Barclays, which affiliates are referred to as the forward counterparties, with respect to the 25,730,994 shares initially offered for sale and has entered into additional forward sale agreements with respect to the 3,859,649 shares deliverable to the underwriters in connection with the exercise of their over-allotment option. As a result, the forward counterparties are expected to borrow from third parties and sell to the public through the underwriters a total of 29,590,643 shares of common stock in the offering. J.P. Morgan and Barclays are acting as joint book-running managers and as representatives of the underwriters for the offering. BofA Merrill Lynch is acting as book-running manager for the offering. Thermo Fisher intends to use any net proceeds it receives upon the future settlement of the forward sale agreements entered into in connection with the offering to fund a portion of its previously announced acquisition of Life Technologies Corporation (Life Technologies). Full Article
Thermo Fisher Scientific Inc Announces Pricing Of $2.2 Billion Common Stock Offering
Thermo Fisher Scientific Inc announced that it has priced an underwritten public offering of 25,730,994 shares of common stock at $85.50 per share in connection with the forward sale agreements described below. J.P. Morgan and Barclays are acting as joint book-running managers and as representatives of the underwriters for the offering. BofA Merrill Lynch is acting as book-running manager for the offering. Thermo Fisher intends to use any net proceeds it receives upon the future settlement of the forward sale agreements, or upon any issuance and sale to the underwriters of common stock in the offering, to fund a portion of previously announced acquisition of Life Technologies Corporation (Life Technologies). In connection with the offering of common stock, Thermo Fisher entered into forward sale agreements with affiliates of each of J.P. Morgan and Barclays, which affiliates are referred to as the forward counterparties. The forward counterparties (or their respective affiliates) are expected to borrow from third parties and sell to the public through the underwriters up to 25,730,994 shares of Thermo Fisher`s common stock (assuming no exercise by the underwriters of their over-allotment option described below). Full Article
Thermo Fisher Scientific Inc Announces $2.2 Billion Common Stock Offering
Thermo Fisher Scientific Inc announced an underwritten public offering of $2.2 billion of its common stock in connection with the forward sale agreements described below. J.P. Morgan and Barclays are acting as joint book-running managers and as representatives of the underwriters for the offering. BofA Merrill Lynch is acting as book-running manager for the offering. Thermo Fisher intends to use any net proceeds it receives upon the future settlement of the forward sale agreements, or upon any issuance and sale to the underwriters of its common stock in the offering, to fund a portion of its previously announced acquisition of Life Technologies Corporation (Life Technologies). Full Article
Thermo Fisher Scientific Inc Declares Quarterly Cash Dividend
Thermo Fisher Scientific Inc announced that Board Of Directors has declared a quarterly cash dividend of $0.15 per share. The dividend will be paid on July 15, 2013, to shareholders of record as of June 17, 2013. Full Article
Thermo Fisher Scientific Inc Updates On FY 2013 Guidance-Conference Call
Thermo Fisher Scientific Inc announced that for fiscal 2013, it expects 3% reported growth in revenue and 1% to 3% organic revenue growth and high single-digit adjusted EPS growth of 7% to 9%. The Company reported revenue of $12.5 billion and EPS of $4.94 in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $12.9 billion and EPS of $5.34 for fiscal 2013. Full Article
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
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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