Buyout Consortium Falls Short for Life Tech

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Thermo Fisher Scientific Inc's bid remained on top despite the challenge from a private equity consortium bidding US $65 per share. The bid totalled US $11.1 billion for Life Technologies Corp.

The bid made by Thermo Fisher for the genetics testing equipment manufacturer is near the top range of the set US $65 to US $70 by Life Technologies Corp. The exact bid for Thermo Fisher could not be calculated as of today.

The buyout consortium seeking to up end the bid from Thermo Fisher consisted of Blackstone Group LP, Carlyle Group LP and KKR & Co LP. Another participant in the consortium is Temasek Holdings.

The firms forming part of the buyout consortium declined to comment while Temasek coult ndo tbe reached for comment. Life Tech declined to make a comment while Thermo Fisher did not immediately provide a response to requests for comments.

Tags
KKR, Blackstone, Buyout

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