Thermo Fisher Scientific Inc. said Monday it has agreed to acquire Patheon N.V. for $35 a share, or $7.2 billion including $2 billion of net debt. Thermo Fisher, which offers services to help with research and laboratory productivity, said it expects the deal to be “immediately and significantly” accretive to adjusted per-share earnings, adding 30 cents in the first full year after close. Patheon offers complex development and manufacturing services (CDMO) to biopharmaceutical companies. The combination will give Thermo Fisher a foothold in the high-growth CDMO market, which it estimates is worth about $40 billion. Patheon has about 9,000 employees worldwide and generated 2016 revenue of about $1.9 billion. The deal is expected to close by year-end. Thermo Fisher has committed debt financing from Goldman Sachs and expects to finance the deal with about $5.2 billion of debt and $2 billion of equity. Patheon shares jumped 34% premarket on the news. Thermo Fisher was not yet active, but has gained 22% in 2017, outperforming the S&P 500 , which has gained about 7%.
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