Thermo Fisher Scientific Inc.
TMO,
announced Tuesday an agreement to buy Sweden-based proteomics company Olink Holding AB
OLK,
in a deal that values Olink at about $3.1 billion, including $143 million in cash. Olink’s stock ran up 69.2% in premarket trading after a halt was lifted, putting it on track to open at a two-year high, while Thermo Fisher share shed 0.9%. Under terms of the deal, Thermo Fisher will pay $26 in cash for each Olink common share outstanding, which represents a 73.6% premium to Monday’s closing price of $14.98. The deal is expected to close by mid-2024. Thermo Fisher expects to realize about $125 million in adjusted income from revenue and cost synergies by the fifth year after the deal closes. “The acquisition of Olink underscores the profound impact that proteomics is having as our customers continue to advance life science research and precision medicine,” said Thermo Fisher Chief Executive Marc Caspe. “Olink’s proven and transformative innovation is highly complementary to our leading mass spectrometry and life sciences platforms.”
