WALTHAM, Massachusetts (

TheStreet

) --

Thermo Fisher Scientific

(TMO) - Get Report

agreed to acquire

Dionex

(DNEX)

for $118.50 a share in cash, or a total of about $2.1 billion.

Thermo Fisher said the transaction isn't conditioned on financing and is expected to be completed in the first quarter of 2011.

Shares of Dionex, a laboratory equipment maker, closed Friday at $98.17.

Thermo Fisher said Monday the transaction is expected to be immediately accretive to its adjusted earnings by 13 cents to 15 cents a share in the first 12 months following the deal's closing.

-- Written by Joseph Woelfel

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Joseph Woelfel

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