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Stock Market & Financial Investment News

News Breaks
November 26, 2013
07:24 EDTTMO, LIFEThermo Fisher receives clearance from European Commission for Life Tech purchase
Thermo Fisher Scientific (TMO) announced that it has received approval from the European Commission for its pending acquisition of Life Technologies (LIFE). To expedite the approval, Thermo Fisher has committed to divest of its cell culture, gene modulation and magnetic beads businesses. Combined, these businesses had 2012 revenue of approximately $225M. The acquisition remains subject to additional regulatory approvals, including the U.S. Federal Trade Commission. Based on its discussions with the FTC, Thermo Fisher does not believe any additional divestures will be required in order to receive U.S. approval. The company is working with the regulatory agencies to complete the transaction as soon as possible, and still expects to close in early 2014.
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