WALTHAM, Mass. and HAMPTON, N.H., Oct. 17 /PRNewswire-FirstCall/ --
Thermo Electron Corporation (NYSE: TMO) and Fisher Scientific International
Inc. (NYSE: FSH) today announced that the U.S. Federal Trade Commission
(FTC) has approved a consent order requiring the divestiture of Fisher's
Genevac business -- a $17 million product line -- and granted the companies
early termination of the waiting period under the Hart-Scott-Rodino
Antitrust Improvements Act for the pending merger of Thermo and Fisher. No
further regulatory review is necessary in the U.S. for the parties to close
the merger.
The companies also announced that, following discussions with the
European Commission regarding their proposed merger, they have offered to
divest the same Genevac business. As a result, the initial deadline for the
European Commission to rule on the merger has been extended to Nov. 9,
2006. Thermo and Fisher anticipate that this proposal will resolve any
issues raised by the European Commission regarding the merger. Assuming the
European Commission clears the transaction on Nov. 9, 2006, the parties
intend to complete the merger on that date.
About Thermo Electron
Thermo Electron Corporation (NYSE: TMO) is the world leader in
analytical instruments. Our instrument solutions enable our customers to
make the world healthier, cleaner and safer. Thermo's Life and Laboratory
Sciences segment provides analytical instruments, scientific equipment,
services and software solutions for life science, drug discovery, clinical,
environmental and industrial laboratories. Thermo's Measurement and Control
segment is dedicated to providing analytical instruments used in a variety
of manufacturing processes and in-the-field applications, including those
associated with safety and homeland security. For more information, visit
http://www.thermo.com.
About Fisher Scientific: The World Leader in Serving Science
Fisher Scientific International Inc. (NYSE: FSH) is a leading provider
of products and services to the scientific community. Fisher facilitates
discovery by supplying researchers and clinicians in labs around the world
with the tools they need. We serve pharmaceutical and biotech companies;
colleges and universities; medical-research institutions; hospitals;
reference, quality-control, process-control and R&D labs in various
industries; as well as government agencies. From biochemicals, cell-culture
media and proprietary RNAi technology to rapid-diagnostic tests, safety
products and other consumable supplies, Fisher provides more than 600,000
products and services. This broad offering, combined with Fisher's globally
integrated supply chain and unmatched sales and marketing capabilities,
helps make our 350,000 customers more efficient and effective at what they
do.
Founded in 1902, Fisher Scientific is a FORTUNE 500 company and is a
component of the S&P 500 Index. With approximately 19,500 employees
worldwide, the company had revenues of $5.6 billion in 2005. Fisher
Scientific is a company committed to delivering on our promises -- to
customers, shareholders and employees alike. Additional information about
Fisher is available on the company's Web site at
http://www.fisherscientific.com.
Forward-Looking Statements
Information set forth in this press release contains forward-looking
statements, which involve a number of risks and uncertainties. Thermo
Electron and Fisher Scientific caution readers that any forward-looking
information is not a guarantee of future performance and that actual
results could differ materially from those contained in the forward-looking
information. Such forward-looking statements include, but are not limited
to, statements about the benefits of the business combination transaction
involving Thermo Electron and Fisher Scientific, including future financial
and operating results, the new company's plans, objectives, expectations
and intentions and other statements that are not historical facts.
Important factors that could cause actual results to differ materially
from those indicated by such forward-looking statements are set forth in
Thermo Electron's and Fisher Scientific's filings with the Securities and
Exchange Commission (the "SEC"), including their respective Quarterly
Reports on Form 10-Q for the second quarter of 2006. These include risks
and uncertainties relating to: the ability to obtain regulatory approvals
of the transaction on the proposed terms and schedule; the risk that the
businesses will not be integrated successfully; the risk that the cost
savings and any other synergies from the transaction may not be fully
realized or may take longer to realize than expected; disruption from the
transaction making it more difficult to maintain relationships with
customers, employees or suppliers; competition and its effect on pricing,
spending, third-party relationships and revenues; the need to develop new
products and adapt to significant technological change; implementation of
strategies for improving internal growth; use and protection of
intellectual property; dependence on customers' capital spending policies
and government funding policies; realization of potential future savings
from new productivity initiatives; dependence on customers that operate in
cyclical industries; general worldwide economic conditions and related
uncertainties; the effect of changes in governmental regulations; exposure
to product liability claims in excess of insurance coverage; and the effect
of exchange rate fluctuations on international operations. The parties
undertake no obligation to publicly update any forward-looking statement,
whether as a result of new information, future events or otherwise.
Contact Information
Thermo Electron
Media Contact:
Lori Gorski
Phone: 781-622-1242
E-mail: lori.gorski@thermo.com
Investor Contact:
Kenneth J. Apicerno
Phone: 781-622-1111
E-mail: ken.apicerno@thermo.com
Fisher Scientific
Media Contact:
Gia L. Oei
Phone: 603-929-2489
E-mail: gia.oei@fishersci.com
Investor Contact:
Chet Mehta
Phone: 603-929-2260
E-mail: chet.mehta@fishersci.com
SOURCE Thermo Electron Corporation
 back to top
Related links:
http://www.thermo.com
http://www.fisherscientific.com
http://www.prnewswire.com/comp/877850.html/
CONTACT:
Media Contact: Lori Gorski, +1-781-622-1242,
lori.gorski@thermo.com, or Investor Contact: Kenneth J. Apicerno,
+1-781-622-1111, ken.apicerno@thermo.com, both of Thermo
Electron; or Media Contact: Gia L. Oei, +1-603-929-2489,
gia.oei@fishersci.com, Investor Contact: Chet Mehta,
+1-603-929-2260, chet.mehta@fishersci.com, both of Fisher
Scientific
|
