FTC approves Thermo Fisher divestiture |
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Sat, 31 Mar 2007 00:14
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WASHINGTON (AP) - The Federal Trade Commission said Friday it has approved Thermo Fisher Scientific Inc.'s request to sell one of its divisions to two private equity firms.Thermo Fisher, which makes scientific instruments and laboratory supplies, was formed by Thermo Electron Corp.'s acquisition of Fisher Scientific International Inc. last year. As a condition for approving the transaction, the FTC said the combined company would have to sell a division that makes high-performance centrifugal vacuum evaporators, or CVEs.High-performance CVEs are used by pharmaceutical research labs and use heat, a vacuum and centrifugal force to process large collections of molecules.The company proposed earlier this year to sell the CVE assets to Riverlake Partners LP and MVC Capital Inc. and the commission said Friday it has approved the transaction 5-0.Shares of Thermo Fisher rose 83 cents to close at $46.75 on the New York Stock Exchange.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Thermo Fisher seeks FTC OK for sale 