In an attempt to fund its acquisition to buy privately held Swedish firm Phadia for $3.5 billion, Thermo Fisher Scientific (NYSE:TMO) says it will offer senior notes to raise the capital required.
The scientific instrument maker first made it known of its intentions to buy Phadia in May. Phadia developed systems for testing blood for allergy’s and auto immune diseases which helped the company post sales of $525 million last year. The company sells products such as ImmunoCap and EliA. Thermo Fisher expects the deal to close in the fourth quarter of the year.
JP Morgan (NYSE:JPM) and Barclays Capital (NYSE:BCS) are among the list of brokers expected to help with the note auction.
Thermo Fisher Scientific is fairly unchanged today, gaining only 0.12 percent to a price of $50.07 per share.
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