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PE group beaten back by Thermo Fisher’s $13bn Life Technologies offer

15 Apr 2013

laboratory 12_sqScientific equipment group Thermo Fisher has reportedly beaten a consortium of private equity firms to acquire testing equipment maker Life Technologies for nearly $13bn.

The Life Technologies’ board met on Saturday to review three takeover offers and chose Thermo over Sigma-Aldrich and a consortium including Blackstone, Carlyle, KKR and Temasek, said Reuters, citing four people familiar with the matter.

Life and Thermo Fisher are negotiating a price close to $75 per share, valuing the business at almost $13bn according to one of the source, who said a deal come as soon as today.

The source added the buyout could yet fall apart as terms are still being finalised.

Last week it was reported that Blackstone, Carlyle and KKR had teamed up to make an $11bn offer for Life Technologies.

The offer was short of Thermo Fisher’s, but the consortium believed it could succeed as Thermo’s takeover of Life Tech could have difficulty securing antitrust approval, a source told the FT.

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