Thermo Acquires Affymetrix
News Apr 01, 2016
Completion of the transaction follows approval of the merger agreement by Affymetrix stockholders at the special meeting held today.
“We are pleased to announce the completion of this transaction and officially welcome the Affymetrix team to Thermo Fisher,” said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. “This is a great outcome for both companies. With Affymetrix, we now have an expanded antibody portfolio to strengthen our leadership in biosciences, as well as new genetic analysis capabilities to better serve clinical and applied markets. Our combined capabilities will benefit our customers, employees and shareholders, and we are excited to move forward as one organization positioned for growth. Since first announcing our agreement back in January, the integration planning has been progressing well and we look forward to creating value through the strategic and financial benefits of the transaction.”
Frank Witney, president and chief executive officer of Affymetrix, said, “This transaction creates significant value for our stockholders and will provide important benefits to our customers and employees. I want to thank all of our stakeholders, including our dedicated employees, for their contributions to the company’s success and their support throughout this process. We believe Affymetrix will be positioned for long-term success as part of Thermo Fisher.”
As a result of the completion of the transaction, Affymetrix stock will cease trading and will no longer be listed on The NASDAQ Global Select Market.
The completion of the acquisition constituted a Make-Whole Fundamental Change (as defined in the First Supplemental Indenture, dated as of June 25, 2012, between Affymetrix and The Bank of New York Mellon Trust Company, N.A. relating to the Affymetrix 4.00% Convertible Senior Notes due 2019). The Effective Date (as defined in the First Supplemental Indenture) related to the Make-Whole Fundamental Change is March 31, 2016.
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