Thermo Fisher To Buy FEI for $4.2B in Cash

Thermo Fisher's shares are trading higher on Friday after the company announced it would buy FEI for approximately $4.2 billion.
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Thermo Fisher's (TMO) - Get Report shares are trading higher on Friday after the company announced it would buy FEI Copmany (FEIC) for approximately $4.2 billion. Under the deal, Thermo Fisher will pay $107.50 a share in cash for each FEI share. Thermo Fisher intends to use cash proceeds from committed debt financing to pay for FEI. FEI designs and manufactures high-performance electron microscopy workflows. In 2015, FEI had revenues of $930 million. It will become part of Thermo Fisher's Analytical Instruments segment. Thermo Fisher's CEO Marc Casper said,'The addition of FEI's leading electron microscopy platform is an outstanding strategic fit with our company and will create significant value for our customers and our shareholders.' The transaction, which is expected to be completed by early 2017, still needs F-E-I shareholder approval as well as regulatory clearances.

This article was written by a staff member of TheStreet.