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Thermo Fisher extends offer for Dionex shares

Fri, 01/14/2011 - 5:45am
The Associated Press

Scientific instrument maker Thermo Fisher Scientific Inc. said Friday it extended its offer to acquire shares of Dionex Corp. until Feb. 16.

Thermo Fisher, based in Waltham, Mass., is offering to buy outstanding shares of the laboratory equipment maker for $118.50 per share in cash, or about $2.1 billion.

Thermo Fisher said nearly 20 percent of all outstanding shares had been tendered and not withdrawn as of Thursday. On Monday, the company said it received antitrust approval for the acquisition.

Last month, Thermo Fisher said the transaction would expand its business in the Asia-Pacific region and help it do more business in industries such as environmental analysis, water testing, and food safety. The company expects to close the deal in the first quarter.

Thermo Fisher stock fell 58 cents to $55.96 in morning trading Friday, while shares of Sunnyvale, Calif.-based Dionex dropped 10 cents to $117.92.

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