Healthcare Industry News: Thermo Fisher Scientific
News Release - August 30, 2006
Thermo Electron and Fisher Scientific Stockholders Approve MergerWALTHAM, Mass. & HAMPTON, N.H.--(HSMN NewsFeed)--Aug. 30, 2006--Thermo Electron Corporation (NYSE: TMO ) and Fisher Scientific International Inc. (NYSE: FSH ) announced that, at separate special meetings held today, stockholders of both companies have voted to approve their merger. At the Fisher stockholders meeting, more than 99 percent of the shares represented were voted in favor of the transaction, constituting a significant majority of the outstanding Fisher shares. More than 98 percent of the Thermo shares represented at the Thermo meeting were voted in favor of the issuance of shares in the transaction. In addition, more than 94 percent of the Thermo shares voted, representing a significant majority of the outstanding shares, approved the amendment of Thermo's certificate of incorporation to increase the number of shares of Thermo's common stock to 1.2 billion and to change the company's name upon the completion of the merger to Thermo Fisher Scientific Inc.
The merger remains subject to regulatory approvals, and as previously announced, the companies continue to expect the transaction will close in the fourth quarter of 2006.
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 a healthier, cleaner and safer place. 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 www.fisherscientific.com.
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.
Source: Fisher Scientific
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