Thermo Fisher Scientific will spend $13.6 billion to buy genetic testing equipment maker Life Technologies in a cash deal that will create a giant company serving research and specialty diagnostics.
That price does not count $2.2 billion in debt that will be assumed as part of the deal.
The Waltham, Mass., company says it plans to pay $76 in cash for each share of Life Technologies, which is based in Carlsbad, Calif.
Life Technologies Corp. shareholders and regulators still need to approve the deal, expected to close early next year. Thermo Fisher says it has obtained commitments for bridge financing for the deal from JP Morgan and Barclays.
The boards for both companies have already approved the deal.
Life Technologies serves customers in scientific research, genetic analysis and applied science.