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Thermo Fisher To Acquire Biolab For $120M

Scientific instrument maker said Monday it is paying about $120 million for Biolab, in a move to expand its reach in Australia and New Zealand.

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.

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