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Thermo Fisher Scientific starts senior note sale

February 16. 2013 4:30PM
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(AP) Scientific instrument and laboratory supplies maker Thermo Fisher Scientific Inc. said Wednesday it is selling debt to cover some of the costs of its acquisition of transplant diagnostics test provider One Lambda.

Thermo Fisher agreed to buy One Lambda for $925 million and said the purchase should close in the fourth quarter. The company said in July that it would fund the deal with a combination of cash on hand and new debt. Fisher did not disclose the value of the senior notes it is selling, but they are due in 2018 and 2023.

One Lambda's tests are used by transplant centers to determine the compatibility of donors and recipients and detect the presence of antibodies that can lead to transplant rejection. One Lambda had $182 million in revenue in 2011, and Thermo Fisher expects the acquisition to add between 9 and 11 cents per share to its adjusted profit in 2013.

Thermo Fisher Scientific shares rose 33 cents to $57.04 in morning trading.

Associated Press

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