WALTHAM, Mass. (AP) -- Scientific instrument maker Thermo Fisher Scientific Inc. said Monday it is paying about $120 million for Biolab, in a move to expand its reach in Australia and New Zealand.
Biolab, also a scientific instrument maker, is the scientific and medical division of Alesco Corp. The deal is expected to close by April 30.
Shares of Thermos Fisher fell 42 cents to $32.74 in morning trading.