is part of the Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Equipment makers merge to form new kid on the block

Thermo Electron (Hampton, NH) has agreed to merge with Fisher Scientific to form a global provider of lab equipment for the plastics sector with $9 billion in expected revenues and $1 billion in cash flow in 2007. Under the terms, Fisher shareholders receive two shares of Thermo common stock for each Fisher share, so that Thermo shareholders will own about 39% of the combined company. Headquarters will be at Fisher''s site in Waltham, MA.

Marijn E. Dekkers, president and CEO of Thermo, becomes president and CEO of the combined company while Paul M. Meister, vice chairman of the board at Fisher becomes board chairman of the new company to be called Thermo Fisher Scientific Inc. Management sees $200 million in cost synergies generated by the transaction in the next three years. The deal, however, still requires shareholder and regulatory approvals.

TAGS: Business
Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.