Thermo Fisher Near Deal for Life Tech: Reports

WALTHAM, Mass. ( TheStreet) -- Thermo Fisher Scientific ( TMO) is close to a deal to acquire Life Technologies ( LIFE), according to published media reports.

The price could end up being as high as $13 billion, which would make it one of this year's largest corporate takeovers, The Wall Street Journal reported Sunday, citing a source familiar with the negotiations.

Waltham, Mass.-based Thermo Fisher is expected to pay about $75 a share for Life Technologies, which makes genetic testing equipment, the Journal reported.

Shares of Carlsbad, Calif.-based Life Technologies closed Friday at $68.00.

The two sides were in exclusive discussions Sunday afternoon, and an agreement could be reached as early as Sunday, the Journal also reported.

Shares of Thermo Fisher closed Friday down 32 cents at $79.59.
This article was written by a staff member of TheStreet.

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