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Thermo Fisher Scientific (NYSE:TMO) said it will acquire Sweden based- Olink Holding AB (OLK) for $26.00 per common share in cash, representing $26.00 per american depositiry shares in cash.
The deal values Olink OLK at ~$3.1B, including a net cash of ~$143M.
The per share value of $26 represents a premium of ~74% to the closing of OLK’s american despositary shares that trade on Nasdaq on Oct. 16.
In the first full year of ownership, the deal is expected to be dilutive to adjusted EPS by $0.17.
TMO added, excluding the financing costs and non-cash deal related equity compensation costs, the deal is expected to be accretive by $0.10 in the first full year of ownership.
The company expects to realize ~$125M of adjusted operating income from revenue and cost synergies by year five after the close of the deal.
TMO will start a tender offer to buy all outstanding shares of OLK and its american depository shares as well.
The deal, which is expected to close by mid-2024, will be funded by cash on hand and debt financing, TMO said.
OLK will become part of TMO’s life sciences solutions unit, after the closing of the deal.
