Summary
Thermo Fisher Scientific Inc. (TMO) has announced the successful completion of its acquisition of Dionex Corporation. The tender offer for Dionex shares, at $118.50 per share in cash, expired on May 13, 2011, with approximately 93% of outstanding shares tendered and accepted. Following this, Thermo Fisher exercised its option to acquire additional shares to exceed the 90% threshold, enabling a short-form merger on May 17, 2011. The total cash consideration paid for the acquisition amounted to approximately $2.1 billion, funded through existing cash reserves and proceeds from senior notes. This strategic acquisition significantly increases Thermo Fisher's ownership and control over Dionex, positioning it to integrate Dionex's operations as a wholly owned subsidiary and realize potential synergies. Investors should note the substantial cash outlay and the completion of a key strategic transaction for Thermo Fisher.
Key Highlights
- 1Thermo Fisher Scientific successfully completed its acquisition of Dionex Corporation.
- 2The tender offer price was $118.50 per share in cash.
- 3Approximately 93% of Dionex's outstanding shares were tendered and accepted by the offer's expiration on May 13, 2011.
- 4Thermo Fisher exercised its "Top-Up Option" to acquire additional Dionex shares, exceeding 90% ownership.
- 5A short-form merger was completed on May 17, 2011, making Dionex a wholly owned subsidiary of Thermo Fisher.
- 6The total cash consideration paid for the acquisition was approximately $2.1 billion.
- 7Funding for the acquisition came from Thermo Fisher's cash on hand and proceeds from senior note offerings.