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Thermo Fisher announces it will buy PPD for $17.4B


Thermo Fisher Scientific will buy Wilmington-based PPD for $17.4 billion, the companies announced this morning.
 
Under the agreement, approved by both companies’ boards, Thermo Fisher will acquire PPD for $47.50 per share for the total cash prices as well as assume about $3.5 billion of net debt, according to a news release.
 
The transaction is expected to be completed by the end of this year but is subject to regulatory approvals, officials said.
 
After the deal closes, PPD would become part of Thermo Fisher’s Laboratory Products and Services Segment.
 
Massachusetts-based Thermo Fisher Scientific (NYSE: TMO) has a global workforce of more than 80,000 and annual revenue exceeding $30 billion, according to the company. It works on technologies, purchasing and pharmaceutical services through its brands that include Applied Biosystems, Unity Lab Services and Patheon. ....

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