Waltham, MA and Hampton, NH – Thermo Electron and Fisher Scientific say they have agreed to merge in a tax-free, stock-for-stock exchange.
The new company will be named Thermo Fisher Scientific and is expected to have 2007 revenues of more than US$9 billion. The two companies say they have complementary technology leadership in instrumentation, life science consumables, software and services. By combining these capabilities, the company will be positioned to provide integrated, end-to-end technical solutions for its customers. As a combined entity, the new company will employ nearly 7,500 staff worldwide.
Marijn Dekkers, president and chief executive officer of Thermo, will become president and chief executive officer of the combined company, and Paul M Meister, vice chairman of the board for Fisher, will become chairman of the board of the combined company. Following the close of the transaction, Paul Montrone, chairman and chief executive officer of Fisher, will be stepping aside in support of the new management team.
“This combination brings together two well-respected industry leaders in the life, laboratory and health sciences marketplace to create a company that has the product breadth, global reach and operational expertise to drive significant value for shareholders, customers and employees,” says Mr Dekkers.