A binding offer was forwarded by Thermo Fisher Scientific Inc for Life Technologies Corp last Tuesday. This was done amidst frenzied activity from private equity firms to form a consortium in order to make the genetics testing equipment manufacturer off the public bourse.
The current market value of Life Tech is estimated at more than US$11 billion, according to several sources who spoke on condition of anonymity. It has become an attractive takeover bid target because of its leadership in advanced diagnostics and genetic sequencing technology. Should Thermo Fisher land the company, the deal would make the new company one of the largest companies in the gene sequencing industry.
This is also the biggest deal after the mergero Thermo Electron and Fisher Scientific that created the company now bidding for the gene sequence firm.
Life Technologies would look to accept offers past the deadline according to the sources. In the meantime, Blackstone, Carlyle and Temasek are in discussion with KKR on the consolidation of required equity for the consortium sought formed to bid for the company.
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