** Updated July 10th - Thermo Fisher (TMO) has completed the tender offer to acquire Olink (OLK)
Thermo Fisher Scientific Inc. has announced the successful acquisition of Olink Holding AB, a move that will significantly enhance its position in the rapidly growing field of proteomics. This strategic merger, executed through Orion Acquisition AB, a direct, wholly-owned subsidiary of Thermo Fisher, marks a critical step in expanding Thermo Fisher's capabilities in providing advanced proteomics solutions.
Key Details of the Merger
The tender offer was launched on October 31, 2023, and involved Thermo Fisher’s wholly-owned subsidiary, Orion Acquisition AB, offering to purchase all outstanding common shares and American Depositary Shares (ADSs) of Olink Holding AB. The offer price was set at $26.00 per common share and $26.00 per ADS in cash, without interest. The transaction valued Olink at approximately $3 billion.
As of June 18, 2024, the tender offer successfully acquired approximately 96.2% of the outstanding shares and ADSs of Olink, marking a significant acceptance of the offer by Olink’s shareholders.
Extension and Regulatory Approvals
To facilitate the completion of the merger, Thermo Fisher extended the expiration time of the tender offer to 5:00 p.m., New York time, on July 9, 2024. This extension was necessary to ensure all regulatory approvals were secured. Notably, on June 17, 2024, Thermo Fisher received clearance from the German Bundeskartellamt, satisfying one of the critical regulatory requirements.
Strategic Rationale
The acquisition of Olink Holding AB aligns with Thermo Fisher’s strategy to strengthen its leadership in the proteomics market. Olink’s innovative technology, which enables the simultaneous analysis of thousands of proteins, complements Thermo Fisher’s existing portfolio and will enhance its ability to offer comprehensive solutions in life sciences research.
Marc N. Casper, Chairman, President, and CEO of Thermo Fisher Scientific, stated, “The acquisition of Olink accelerates our mission to enable our customers to make the world healthier, cleaner, and safer. Olink’s unique technology is highly complementary to our existing capabilities, and together, we can deliver unparalleled solutions to the scientific community.”
Future Prospects
This merger is expected to drive significant growth opportunities for Thermo Fisher, providing customers with enhanced tools and technologies for proteomics research. The integration of Olink’s platforms with Thermo Fisher’s global infrastructure will foster innovation and accelerate the development of new diagnostics and therapies.
The acquisition of Olink Holding AB by Thermo Fisher Scientific Inc. represents a strategic move to enhance its capabilities in proteomics, offering significant value to researchers and stakeholders in the life sciences industry. The successful completion of this merger underscores Thermo Fisher’s commitment to expanding its technological leadership and providing innovative solutions to advance scientific discovery.
Olink Merger
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