Thermo Scientific made a new offer for Life Tech Company today as most private firms were racing to finalize the consortium to purchase the company. Life Tech is known for being one of the best companies when it comes to manufacturing equipment for genetic testing. Life Tech currently has a market value worth $11 billion and has continued to be an attractive and profitable company due to their strength when it comes to advanced diagnostics and sequencing of genes. They also have a significant international presence and were able to beat competition overseas. This is why numerous companies in the United States are doing everything they can to purchase the company and are willing to pay as much money as they can.
If other companies such as Thermo Fisher are really interested in the company, they should be ready to surpass competition by continuously bidding with a higher amount as several other companies are interested in purchasing it as well. This would definitely be one of the most important deals to take place since Thermo Electron merged with Fisher International for a deal that was worth $12 billion during 2006. This resulted in the creation of the world’s biggest scientific equipment maker.
Thermo Fisher was obviously able to meet the bidding deadline but several other equity firms who were working on joint bids ended up missing it. Life Tech is most likely going to accept offer after the deadline to ensure that they have received all the best deals possible. Thermo Fisher is currently bidding for $60 per share but is willing to increase the price to $70 if the competition increasing. Shares for Life Tech increase today by 33% and this resulted in the increase of the market value of the company as well.
Life Tech has already hired several advisors to explore the deals and sales being make and according to experts, the company has also received bids from well-known industrial companies as well. If Thermo Fisher ends up winning this action, this will definitely boost their presence when it comes to scientific research and analysis of genetic equipment. This will result in them being one of the technology giants in the healthcare sector with revenues worth $16 billion per years and about 60,000 employees. It is unknown if the bid is going to be accepted or not but for now it is obvious that the company is trying to explore as much options as possible.