Further expands service offering to pharma and biotech customers
- Establishes Thermo Fisher as a global leader in the attractive and high growth clinical research services industry
- Adds highly complementary services for the company's fastest growing end market
- Offers both meaningful cost and revenue synergies which will further accelerate growth
- Expected to be immediately and significantly accretive to Adjusted Earnings Per Share (EPS)¹ after close
WALTHAM, Mass. and WILMINGTON, N.C., April 15, 2021 /PRNewswire/ -- Thermo Fisher Scientific Inc. (NYSE: TMO) ("Thermo Fisher"), the world leader in serving science, and PPD, Inc. (Nasdaq: PPD) ("PPD"), a leading global provider of clinical research services to the pharma and biotech industry, today announced that their boards of directors have approved a definitive agreement under which Thermo Fisher will acquire PPD for $47.50 per share for a total cash purchase price of $17.4 billion plus the assumption of approximately $3.5 billion of net debt. This represents a premium of approximately 24% to the unaffected closing price of PPD's common stock on the Nasdaq as of Tuesday, April 13, 2021, or 32% to the 60-day VWAP inclusive of that date.