Thermo Fisher agrees to buy Dionex for $2.1b
Thermo Fisher Scientific Inc., the Waltham maker of scientific instruments, said today that its board has approved a transaction under which the company will acquire all outstanding shares of Dionex Corp. for about $2.1 billion.
In a press release, Thermo Fisher Scientific said it will pay $118.50 per share for Dionex, a California manufacturer of chromatography systems. The price represents a 21 percent premium to Dionex's closing stock price on Dec. 10, Thermo Fisher Scientific said.
In a statement, Thermo Fisher president and chief executive Marc N. Casper said: "Dionex's strength in chromatography instruments, software, and consumables complements our leading positions in mass spectrometry and laboratory information management systems. The transaction, which we expect to be immediately accretive, is consistent with our strategy of accelerating growth by increasing our depth of capabilities to serve attractive end markets. Specifically, it complements our strong presence in China, where we've established the headquarters for our global environmental instruments business and continue to build our commercial infrastructure to meet the needs of customers in growing water quality, consumer safety, and life sciences markets."