Thermo Fisher Scientific (NYSE: TMO), the world leader in serving science, today announced that it has successfully completed its tender offer for Dionex Corporation (NASDAQ: DNEX), which expired at 7:00 pm, New York City time, on Friday, May 13, 2011.
“The acquisition of Dionex is consistent with our strategy of accelerating growth by increasing our depth of capabilities in innovative technologies and emerging markets”
"The acquisition of Dionex is consistent with our strategy of accelerating growth by increasing our depth of capabilities in innovative technologies and emerging markets," said Marc N. Casper, president and chief executive officer of Thermo Fisher. "This combination creates a leading offering for our customers in chromatography instruments, software, consumables and services. With Dionex, we will expand our presence in attractive applied markets, including environmental analysis, water testing and food safety, and increase our commercial capabilities in China and other growing Asia-Pacific regions. We welcome Dionex employees to the Thermo Fisher team and look forward to working together to fulfill our mission, which is to enable our customers to make the world healthier, cleaner and safer."
Based on preliminary information from the depositary for the tender, as of the expiration of the tender offer approximately 16,304,830 shares (including 2,316,079 shares that were tendered pursuant to guaranteed delivery procedures) were validly tendered and not withdrawn in the tender offer, representing approximately 93% of Dionex's issued and outstanding shares. All validly tendered shares have been accepted for payment, which will be made in accordance with the terms of the tender offer.
Thermo Fisher intends to complete its acquisition of the remaining shares of Dionex through a short-form merger later this week. In the short-form merger, any remaining Dionex shares (other than those held by Thermo Fisher, Dionex or any wholly owned subsidiary of Dionex, and any shareholders who validly exercised their appraisal rights in connection with the merger) will be exchanged for $118.50 per share in cash.