Fisher Scientific and Apogent to Merge in $3.7 Billion Transaction
By Biotechdaily staff writers
Posted on 30 Mar 2004
In a move designed to increase cash flow and financial flexibility while providing its customers with innovative products and services, Fisher Scientific (Pittsburgh, PA, USA) has announced that it will merge with Apogent Technologies Inc. (Portsmouth, NH, USA) in a transaction valued at US$3.7 billion.Posted on 30 Mar 2004
Fisher's shareholders will own approximately 57% of the combined company, and Apogent's shareholders will own approximately 43%. The companies anticipate that the transaction, which will establish a $1.1 billion footprint in the high-growth life-science market, will be completed early in the third quarter of the 2004 calendar year.
"Today's announcement represents a major strategic milestone for our company and will create a more integrated and efficient global supply network for our customers,” said Paul M. Montrone, chairman and CEO of Fisher Scientific. "With Apogent Technologies, Fisher Scientific has further enhanced its position in the life-science, scientific-research, and clinical-lab markets and created a stronger platform for growth. Joining forces with Apogent enables Fisher to create efficiencies for our customers and value for our shareholders.”
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