Thermo Fisher Scientific (NYSE:TMO) announced today that it agreed to acquire PPD (NSDQ:PPD) for $17.4 billion.
The boards of directors for both companies approved the definitive agreement, which will see Thermo Fisher buy PPD for $47.50 per share, totaling $17.4 billion, plus the assumption of approximately $3.5 billion of net debt, according to a news release. That represents a premium of approximately 24% to the unaffected closing price of PPD’s common stock on Tuesday, April 13, 2021.
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